^tllBRARY6}^       -5^tlIBRARY£J^ 


^<!/0J  nV3- JO"^      ^<!/0dllV3JO'^ 


^^OFCAllFOffxA 


^       ^OFCA1IFO% 


>^       ^ 


i^ 


yoxanmy^      ^(^Aavaan-^'^ 


.^WEUNIVER5•/A 


o 

^N^EUNIVERS/A 


o 


^lOSANCElfj^x 
o 


^    ^ 


%a3AiNa]UV^ 


vvlOSAMCELfx> 


%a3AINn3WV 


^. 


A\\EIJN'IVER5/A 


o 


AWEUNIVERi-ZA. 


<ril30NVS0V"^ 


^lOSANCElfj> 


^^HIBRARYQ<■         ^^l■UBRARYQr 


^  ('  in  2008  with  funding  from 


;r        IVIicrosoft  Corporation 


^<?Aavaan^^ 


# 


•< 


^UIBRARY^^       ^^^^l•lIBRARYQ^ 


0FCA1IF0% 


^OFCAllFOff^ 


^\^E  UNIVERS//- 


v^lOSANCEli/v. 

o 


^Tiij'jNvsoi^     "^/saaAiNnauv^ 


^WEUNIVERS/A 


^^Aavaaii^^J^      ^OAbvaaiii^ 


<riijONVsoi^ 


^lOSANCElfXx 

8  x-^s — .^ 


-< 

"^Aa^AlNd  3WV^ 


^ 


.\WEUNIVER% 

<    ^^    St 


^lOSANCElfXy. 


^^^l•llBRARYQ/r^ 


^^HiBRARYQ^ 


is^ 


>/. 


.vV 


CHARTER 


SA^i^  (bw  ]]Lmm's^(3^ii^^ 


Approved  February  22d,  1834. 


LOUISVILLE,  KY. 

PRINTED  BY  S.  PENN,  JH. 
1837. 


^    ^^?^3    ^i^7f 


H- 


CHARTER. 


Sec.  1.  Be  it  enacted  by  the  General  Assemhly  of  the  Com- 
inonwealth  of  Keniucki/,  That  there   sliall  be,  and  is  hereby     tlank  incor- 
cstablishcd,  a  Bank,  by  the  name  of  tlie  Uaxk  of  Kentucky,  P°'"''^'^''- 
with  a  capital  stock  of"  five  millions  of  dollars,  divided  into  shares,,     t  1  t    k 
of  one  hundred  dollars  each,  to  be  subscribed  and  paid  for  bv  this 
Commonwealth,  individuals,  companies,  and  corporations,  in  the 
manner  hereinafter  specified ;  which  subscribers  and  sharehold- 
ers, their  successors  and  assigns,  shall   be,  and  thev  are  hereby 
creiited  a  body  politic  and  corpomte,  by  the  name  and  style  of  the 
President,  Directors  and  Company,  of  the  Bank  of  Kentucky; 
anil  shall  so  continue  a  body  politic  and  corporate,  until  the  first     Duration   of 
day  of  October,  one  thousand  eight  hundred  and  sLxty-four,  and  tlie  charter. 
by  that  name,  under  the  lestrictions  hereinafter  prescribed,  shall 
be  competent  to  contract  and  be  contracted  with,  to  sue  and  be        p 
sued,  plead  and  be  imj)leadcd,  answer  and  be  answered,  defend  powers.  '^' 
and  be  defended  in  all  courts  and  places,  and  in  matters  as  na- 
tural persons,  with  full   power  and  authority  to  acquire,  hold, 
possess,  use,  occupy,  and  enjoy,  and  to  sell,  convey,  and  dispose 
of,  all  such  real  estate,  goods,  effects,  and  chattels  as  shull  be 
convenient  for  the  transaction  of  its  business,  or  which  may  be 
conveyed  to  said  Bank  as  surety  for  any  debt,  or  which  may  bo 
received  in  discharge  of  any  debt,  or  purchased  in  satisfaction 
of  any  judgment  or  decree  in  tiivor  of  the  Bank,  or  in  the  pur- 
chase of  any  property  on  which  said  Bank  may  have  a   lien; 
and  .said  Bank  may  have  and  use  a  common  seal,  and  change, 
alter,  and  renew  the  same  at  pleasure;  and  it  may  ordain  and  |)ut 
in  execution  .such  by-laws,  rules  and  regulations,  for  llic  gfxwl 
government  of  said  Bank,  and  the  prudent  and  enicient  man- 
agement of  its  afi'airs,  as  may  be  thought  most  proper — |)rovide(l 
they  be  not  contrary  to  iho  constitution  and  laws  of  this  State,  or 
of  the  United  States. 

Svc.  2.  That  said  B  iidi  shall  have  and  keep  its  principal  of-  i'riiiri|.ul  odkr, 
fico  of  Discr)unt  and  Dcpositc  in  the  City  of  Louisvilh;;  and  it  <'tilisroimt.Tnd 
may  not  have  more  than  six  offices  of  Di.scount  and  Deposite  in ''' •.'"'"•'^  -m  '"^ 

1  "  f    1  •      CI  t       1        •  1     II    I  1  "l  Louisville; 

Other  parts  of  this  btatc.     Its  business  shall  be  to  loan  money,     Brmithcs. 
discount  [jfoniissory  notes  and  bills,  and  deal  in  exchange,  and 


4  CHARTER  OF  THE 

it  m\\\  issue  bills  or  bank  notes  |)ayable  to  bearer  on  demand  at 
any  ot"  its  otlicos  of  l)is(  bunt  and  ])o|H)sitc,  but  not  of  loss  de- 
iinininalioii  tlian  ti\ o  dollars;  and  it  shall  not  issue  any  notes, 
Its  liusiiioss.     bills,  checks,  or  orders,  payable  to  bearer,  other  tlian  sueh  as  are 
UKulc  payable  on  demand.     The  |)romiss()ry  notes  nr.ide  paya- 
ble to  any  person  or  persons,  and  payable  and  negotiable  at  the 
IJank  of  Kentucky  or  any  of  its  branches,  and  endorsed  to  and 
^•'&o*'«'''<' discounted  at  said  Bank,  shall  be,  and  they  are  hereby  put  on 
footme" ot'Vor^- *i>G  same  footing  as  tbreign  bills  of  exchange;  and  remedy  may 
eisriibillsQfcx- be  had  jointly  or  seyerally  against  the  drawers  and  endorsers,  and 
iliuiige.  ^^.j^jj  ij].^,  otVect,  except  as  to  damages,  and  except  that  in  a  regu- 

lar course  of  administration,  they  shall  have  no  other  or  greater 
dignity  or  priority  of  payment  than  other  notes;  tmd  the  Bank 
In  what  to  deal  ^''''^'  "^^'  directly  or  indirectly,  deal  or  trade  in  any  thing  except 
loaning  money  and  exchange,  and  in  gold  or  silver  bullion,  or  in 
the  sale  of  goods,  chattels,  rights,  and  credits  really  and  truly 
j)lcdged  for  money  lent  and  not  redeemed  in  tiine,  or  goods  which 
shall  be  the  proceeds  of  its  lands. 

Sec.  3.  That  the  bank  or  promissory  notes  to  be  issued  by 
iSotes,  I'owjjjjjj  J3ank  shall  bo  signed  by  the  President  of  the  principal 
Bank,  and  countersigned  by  the  Cashier  thereof — and  said  Bank 
shall  be  restrained  from  issuing  cheeks  or  orders  payable  at  any 
of  its  offices  or  elsewhere,  to  any  person  or  order,  or  to  any  per- 
son or  bearer,  with  the  intent  that  said  checks  or  orders  shall  cir- 
culate as  Bank  notes. 

Skc.  4.  That  said  Bank  sliall  not  at  any  time  owe,  whether 
Debts  of  the  by  bond,  bill,  note,  or  other  contract,  an  amount  exceeding  twice 
Bank  not  to  ex- j^jjg  amount  of  the  capital  stock  actually  paid  in,  exclusive  of 
amount  of  its  sums  due  on  deposites;  and  in  cases  of  excess,  the  President  and 
capital  stock.    Directors,  under  whose  administration  it  shall  have  taken  place, 
shall  be  liable  for  all  or  any  of  the  debts  of  said  Bank,  in  their 
individual  capacities,  by  a  joint  or  several  action  of  debt  against 
them,  or  any  of  them,  their  heirs,  executors  or  administrators,  in 
any  court  having  jurisdiction  thereof,  by  any  creditor  or  creditors 
of  said  Bank:  and  shall  Ix;  j)rosecuted  to  judgment  and  execu- 
tion, any  conditions  or  agreement  to  the  contrary  notwithstand- 
ing: Provided,  That  if  the  President  or  any  of  the  Directors 
may  be  absent  when  the  excess  may  be  contracted  or  created, 
or  being  present,  shall  dissent  from  the  act  by  which  the  excess 
is  about  to  be  contracted  or  created,  he  or  they  shall  not  be  liable 
•  under  this  section,  if  he  or  they  shall,  within  ten  days  from  the 

creation  of  such  excess,  or  discovery  thereof,  make  affidavit  of 
their  absence  or  dissent,  and  file  the  same  for  record  with  the 
recording  officer  of  the  city  or  county;  and  shall  moreover,  with- 
in ten  da^'s,  give  notice  thereof  in  one  or  more  of  the  public 
new.«papers  printed  in  this  State,  and  transmit  a  copy  thereof  to 
the  Governor  of  this  Commonwealth  for  the  time  being,  and  shall 
m  said  notice,  call  a  meeting  of  the  shareholders,  which  they 
are  hereby  authorized  to  do. 


BANK  OF  KENTUCKY.  5 

Sec.  5.  Tlie  said  Bank  shall  not,  at  any  time,  suspend,  fail, 
or  refuse  payment  in  gold  or  silver,  of  any  of  its  notes,  bills,  or  Upon  a  failure 
otlier  obligations,  due  or  payable,  or  any  moneys  on  deposite  ;  notes  in  specie, 
and  in  case  the  officei-s,  in  the  usual  banking  hours,  at  the  office  the  charter  to 
of  Discount  and  Deposite,  where  the  same  shall  be  ])ayal)le,  shall  ^^  forfeited. 
refuse  or  unreasonably  delay  payment  in  gold  or  silver  of  the 
amount  of  any  note  there  demandable  and  presented  for  payment, 
or  the  payment  of  any  money  previously  deposited  at  such  of- 
fice, and  then  due  and  demandable  by  any  person  or  persons 
entitled  to  receive  payment  of  the  same,  said  bank  shall  be  li- 
able to  pay  damages  at  the  rate  of  twelve  per  cent,  per  annum 
on  the  amount  thereof,  from  the  time  of  such  failure,  refusal,  or 
delay,  until  payment  thereof;  and  for  such  failure  or  refusal,  or 
for  any  violation  of  this  charter,  the  same  shall  be  forfeited,  and 
a  scire  facias  shall  be  sued  out  in  the  name  of  the  Common- 
wealth by  the  Attorney  General,  and  such  proceedings  be  had 
as  to  declare  such  forfeiture  by  the  judgment  of  a  Court;  and 
from  and  after  the  judgment  of  forfeiture,  said  corporation 
shall  cease  to  exercise  any  of  the  powers  and  privileges  hereby 
granted :  Provided,  said  forfeiture  shall  not  be  construed  tq 
prevent  Said  bank  from  suing  and  bemg  sued,  and  continuing 
its  operations  for  the  purpose  of  closing  its  concerns;  nor  from 
making  any  contracts  that  may  be  convenient  and  proper  for 
that  purpose. 

Six.  0.  That  the  real  and  personal  estate,  business,  proper- 
ty, funds,  and  prudential  concerns  of  said  Bank,  and  the  ad- 
ministration of  its  affairs  shall  be  under  the  direction,  manage- 
ment and  control  of  eleven  Directors,  eight  of  whom  shall  rep- 
resent the  private  stockholders,  and  three  the  Commonwealth  '^'^'^  Directors, 
of  Kentucky,  chosen  as  hereinafter  directed;  they  shall  be 
stockholders ;  and  after  the  first  election,  shall  have  been  stock- 
holders at  least  three  months  previous  to  their  election;  they 
shall  be  residents  of  this  State  and  citizens  of  the  United  States; 
and  after  the  first  election,  they  shall  be  elected  annually  on  .  Anniia|  clec- 
the  first  Monday  in  May.  Each  Director  shall  be  the  owner 
and  holder  of  twenty-five  shares  of  the  stock  in  his  own  right; 
they  shall  hold  their  offices  lor  one  year,  and  until  their  succes- 
sors shall  be  chosen;  at  least  three  of  them  shall  go  out  of  of- 
ficQ  annually.  The  Directors  representing  the  private  stock- 
holders shall  be  chosen  by  the  shareholders,  who  shall  meet  at 
the  annual  elections  in  the  City  of  I.,ouisvil!e,  at  such  time  and 
place  as  the  directory  for  the  time  being  shall  direct — and 
notice  of  the  time  .'ind  place  of  holding  the  annual  elections 
shall  1)0  |)ul)lished  in  at  lea.st  two  public  authorized  newspajjcrs 
printed  in  Louisville,  thirty  days  next  |)roceding  the  election — 
the  cloftion  ."^hall  be  by  plurality  of  votes,  to  be  counted  and  read 
in  pulilic  after  all  the  votes  are  taken — the  elections  shall  be  con-  Howconcluci- 
ducted  under  the  direction  of  three  shareholders,  acting  imdcr  ^  ' 
oath,  and  previou.sly  chosen  by  the  dircclory,andnot  of  their  own 


6  CHARTER  OF  THE 

Im-kIv.  No  pcreon  who  is  ;i  director  or  oH'iccr  of  another  bunk, 
Whosliallhof^iiail  bo  chgiblc  as  a  (hroctor  in  tliis  hank;  and  any  director 
^^,J!j[|^''""*"^'"beconiinjj;  a  director  or  ollicer  <tf  another  haidv,  or  wliile  under 
protest  in  tliis  hank,  for  liio  non-|)a\nii'nt  of  ilehl,  shall  be  lield 
to  have  vacated  tlie  udice  ol'  ilircctor  in  tliis  bank — nor  shall 
two  partners  in  trade  he  e!i<iil)le  as  directors  in  this  bank,  at  one 
and  the  same  time;  and  if  (he  President,  Cashier,  or  any  Direc- 
toi-s  shall  fail  or  hecunic  insi)lvcnt  after  his  election  or  appoint- 
ment, he  shall  become  incajiable  to  serve  as  an  oiiicer  in  this 
bank,  and  shall  be  held  to  have  vacated  his  place — nor  shall 
he  bo  appointed  to  serve  in  this  bank  until  all  his  debts  arc 
paid,  or  until  ho  obtains  a  full  dischaigc  from  the  same — nor 
.shall  any  one  who  has  ever  failed  in  business  bo  olioible  to 
the  otlicc  of  President,  Cashier,  or  Director  in  this  bank  until 
all  his  debts  are  paid,  or  until  he  is  fully  discharged  from  the 
same.  II',  from  any  cause,  an  election  should  not  take  place 
on  the  day  lixed  by  this  charter,  the  corporation  for  th.it  cause 
shall  not  be  dissolved,  but  the  stockholders  may  hold  an  election 
on  any  other  day  the  by-laws  shall  direct. 

Skc.  7.  That  at  all  meetings  of  the  stockholders,  and  at  all 
elections    under    this    charter,   each    and   every    stockholder, 
voles  "on  "^111*6  ^^licthcr  individuals,  companies  or  corporations,  shall  be  entitled 
block.  to  one  vote  for  each  share  held  hi.  their  own  right,  up  to  fifty 

shares ;  and  for  every  five  shares  over  fifty  and  up  to  one  hun- 
dred, one  vote — and  for  every  twenty  shares  over  one  hundred, 
one  vote.  After  the  first  election  no  share  shall  entitle  the 
lioldcr  to  a  vote,  imless  the  same  has  been  held  by  the  person 
claiming  to  vote  on  the  same,  at  least  three  months  prior  to  that 
time,  and  so  appear  on  the  books  of  the  Bank.  Any  stock- 
by  pK).\y.^°^^  holder  entitled  to  vote,  may  do  so  in  person  or  by  proxy,  such 
proxy  being  granted  to  a  stockholder  who  is  not  the  President 
or  a  Director,  the.  Clerk,  Cashier,  or  Teller  of  the  bank;  and 
any  stockholder,  who  is  not  a  citizen  of  the  United  States,  shall 
not  be  entitled  to  vote  on  his  stock. 

Sec.  8.    That  the  Directors  chosen  for  the  principal  Bank 

under  the  provisions  of  this  charter,  shall,  as  s(K)n  as  may  be. 

Directors  to  after  the  first  and  every  annual  or  other  election  of  Directors, 

uJ^t'  *  ^"^'^*''  ^^^^-^  ^  President  from  their  own  body,  who  shall  preside  at  the 

board  until  the  next  election;  and  in  case  of  the  death,  abscqce, 

or  resignation,  or  .vacation,  of  the  office  of  President,  the  residue 

of  the  Directors  shall  choose  a  President  p-o  tempore;  they  shall 

Fill  vacancies  fill  all  vacancies  which  may  occur  in  their  own  body  durin"-  the 

l°d^'"^h   °"."time  for  which  they  were  cho.scn,  and  elect  a  Cashier,  Clerks, 

*ers,  Sic^       '  aErents  and  servants  of  the  principal  Bank ;  fix  their  compensation, 

define  their  power.«,  and  prescribe  their  duties,  and  shall  require 

of  them  such  bonds  and  in  sucli  penalties  as  they  may  deem  right; 

which  Ijonds  shall  be  laid  monthly  bef^u-e  the  Directorv,  and  an 

entry  thereof  made  on  record ;  and  the  dii-ectory  may,  from  time  to 

time,  require  such  additional  bonds  and  sureties,  with  such  pen- 


BANK  OF  KENTUCKY.  .7 

allies  and  conditions  as  in  their  opinion  will  secure  the  banii 
from  loss  or  damage;  and  all  such  officers  shall  hold  their  places 
during  the  pleasure  of  the  President  and  Directors. 

Sec.  9.  The  President  and  Directors  of  the  principal  bank,  Piesidont  and 
fanv  sLx'of  whom  shall  Ibrm  a  quorum  for  the  transaction  of  bu- '^"■"jo'=;  '"ay 
siness,)  may,  irom  tmie  to  tnne,  make  such  by-laws,  rules  and 
regulations  tor  their  o\\  n  government,  and  for  the  management 
and  disposition  of  the  property,  estate,  funds,  and  business  of  the 
bank,  and  all  matters  appertaining  thereto,  which  they  may  deem 
expedient,  not  contrary  to  the  provisions  of  this  charter,  or  the 
by-laws,  rules  and  regulations  which  the  stockholders,  at  their 
annual  or  other  meetings,  may,  from  time  to  time,  prescribe : 
Provided,  hotL-evcr,  That  a  concurrence  of  a  majority  of  all  the 
Directors  shall  be  necessary  in  tlie  adoption  of  any  of  the  by- 
laws of  the  institution. 

Sec.  10.  The  President  and  Directors  shall  hold  stated  meet-     h^j^  ^^^^^,^]^ 
ings  at  least  once  a  week,  on  such  days  and  such  hour  of  the  meetings. 
day  as  they  ma}',  from  time  to  time,  appoint,  and  at  such  other 
time  as  they  may  agi-ee  on;  and  they  shall  attend  called  meet- 
ings at  any' time  tlie  President  shall  so  direct;  and  all  questions 
before  the  board  shall  be  decided  viva  voce,  and  on  the  request  . 

of  any  two  members,  the  yeas  and  nays  on  any  proposition  ^"^"bedecideTviva 
mitted,  shall  be  entered  or  recorded  on  the  journal  of  their  pro-  voce. 
cecdings ;  and  no  vote  shall  be  reconsidered  when  a  less  number 
are  present  tiian  when  the  vote  was  given. 

Sec.  11.  The  President  and  Directors  of  the  principal  Bank 
shall  have  fwwer  and  authority,  and  it  shall  be  their  duty,  to  f^^^"  be^esublL'^^iecl? 
tablish  not  less  than  four,  nor  more  than  six  branches;  and  they 
shall  establish  and  continue  one  branch  at  some  suitable  place 
south  of  Green  River,  and  one  bz-anch  at  some  suitable  place 
between  Green  and  the  Kentucky  Rivers;  and  two  branches  at 
some  suiud;le  places  on  the  North  of  the  Kentucky  River,  as 
scon  as  the  sale  of  the  stock  will  jnstif\'  their  doing  so;  and  a^ 
branch  to  be  located  and  continued  at  the  seat  of  Government, 
unless  the  Legislature  shall  otherwise  direct,  to  aid  in  the  man- 
agement of  the  fiscal  atfairs  of  the  State,  and  the  sixth  branch 
at  such  time  and  ])lace  as  the  President  and  Directors  may  de- 
signate :  Provitlrd,  howcrcr,  That  should  the  Directors  fail  to  Proviso. 
establish  tire  lifdi  and  sixth  branches  hereby  authorized  to  be 
cstabh.-hcd,  that  the  Legislature  herel)y  reserves  the  right  to  di- 
rect the  establishment  of  these  branches,  and  to  locate  the  sixth 
branch.  The  amount  of  capital  which  shall  be  employed  at  liie 
principal  Bank  and  at  the  several  liranches,  shall  i)e  under  the 
control  of  the  President  and  Directors  of  the  principal  Bank,  so 
fte  to  employ  the  same  mo.-t  advaniuireuusly  to  the  stockholders 
and  the  comunmity:  ;md  the  right  of  the  President  and  Directors 
of  (he  principal  bank  to  change  the  location  of  a  branch  which 
shall  have  been  mismanaged,  or  shall  have  provcil  unpnMluc- 
tivc,  shall   be   unquestionable:    Provided,  There  shiill  not  be 


8  CHARTER  OF  THE 

omployod  more  tlian  two-fifilis  of  (ho  captal  stock  actually  paid. 

The  amount  ji,  ^^  bankiiiji  capital,  in  tlio  city  ol'  Louisville,  unless  authorized 

be  cmpl.ntdiii '')  '''*^'  Legislature,  ami  tlie  Ixunls  or  scrip  paid  in  by  the  Com- 

LoiiisviMo  mill  uioMW calili,  siuill    not,    untler  tiirs  pnnision,  be  considered  as 

inil.e  branches  ^,„|,i,.i|   ^y^^^^\  j,,^  ^^^^^■^\   j,^,ij^  .„„i  ^^^^^  ^..^^^^  received  by  the  Bank; 

and  it  shall  1)0  lawtid  to  employ  tlie  first  live  hundred  thousand 
dollars  paid  in  by  individuals,  companies  and  corporations,  as 
banking'  ca|)ilal  in  the  cityol"  Louisville;  and  it  shall  then  be  the 
duty  ot"  the  President  and  Directors  of  the  principal  bank,  to 
employ  the  residue  of  the  capital  stock  as  paid  in,  to  the  estab- 
lishment of  branches,  until  tlu'ee-tifths  of  all  the  capital  stock 
paid  in  shall  be  employed  in  the  branches,  and  thereafter  three- 
titlhs  of  what  shall  be  ])aid  in  shall  be  em|)loyed  in  the  branches, 
and  the  residue  may  be  emplo\ed  in  the  principal  Bank;  and 
they  shall  establish  the  branch  at  the'  seat  of  Government  first, 
and  the  others  in  such  order  of  time  as  they  shall  deem  expe- 
dient. 

Sec.  12.  The  President  and  Directors  of  the  principal  Bank 
Directorsandg|j.^H  j^j^y^j  power  and  authority  to  appoint  a  Cashier  and  nine 

Cashiersol  the  '  i      ,-    ■       ,  •,  ,'  •  i- 

branrhes  to  be  Directors  tor  each  oi  the  branches,  taking  care  to  appomt  quali- 
appoiiited.        fjed  Stockholders  as  Directors,  each  having  not  less  than   five 
shares,  and  not  less  than  three  of  the  Directors  of  each  branch 
shall   go  out   of  office   annually.     They  shall    also    prescribe 
such  rules  and  regulations  for  the  government  of  the  branches, 
as  they  may  deem  right,  and  shall  have  power  to  enforce  the 
same. 
P   sident       ^^*''  I'^'l'ic  Directors  of  each  of  the  branches  shall  choose 
Clerk,    &c.  of  "J^G  of  their  o\\  n  body  as  President,  and  appoint  a  Clerk  and  such 
the  branches,    other  ofticers  as  the  President  and  Directors  of  thie  principal  Bank 
shall  direct;  and  not  less  than  a  majority  of  them  shall  form  a 
quorum  for  the  transaction  of  business. 
.  ^  Sec.  14.  That  no  dividend  of  the  profits  of  said  Bank  shall  be 

fund.°"  "°^"  declared  until  there  shall  be  a  surplus  of  twenty  thousand  dollars 
for  each  million  of  dollars  of  the  capital  stock  of  the  bank  actual- 
ly paid  in,  and  the  surplus  or  contingent  fund  so  raised,  shall 
never  be  reduced  below  that  ratio,  on  all  stock  paid  for;  and  it 
shall  be  the  duty  of  the  President  and  Directors  to  the  principal 
Bank,  on  the  first  Monday  in  January  and  July  of  each  year, 
to  declare  a  dividend  of  the  profits  over  and  above  the  contingent 
fund  aforesaid,  among  the  stockholders,  payable  to  them  on  de- 
mand; of  which  dividend,  and  the  time  and  place  of  payment, 
notice  shall  be  given.  And  if,  at  any  time,  said  President  and 
Directors  shall  declare  a  dividend  lessening  the  capital  stock,  or 
lessening  the  contingent  fund  aforesaid,  or  by^  any  mismanage- 
ment or  neglect  of  duty,  shall  cause  anv  loss  or  deficiency  of, 
or  in  the  capiial  stock  of  said  Bank,  the  Directors  consenting 
thereto,  or  guilty  of  such  mismanagement  or  neglect  of  duty, 
shall  be  jointly  or  severally  liable  to  the  stockholders  or  any 
creditor  of  said  Bank,  who  may  be  injured  thereby — and  the 


BANK  OF  KENTUCKY.  9 

President  and  each  Director  shall  be  deemed  guilty  of  such  mis- 
management or  neglect,  or  to  have  consented  to  such  dividend, 
unless  he  forthwith  give  notice  of  his  dissent  thereto,  or  his 
absence  from  the  institution,  in  like  manner  as  provided  in  the 
fourth  section  of  this  charter,  and  call  a  meeting  of  the  stock- 
holders as  herein  provided. 

Sec.  15.  That  it  shall  be  the  duty  of  the  Cashier  of  the  prin- 
cipal Bank  on  the  first  day  of  July,  1836,  and  on  the  first  day  of  Tax  orboius. 
July  in  each  succeeding  year,  during  the  continuance  of  this 
charter,  to  pay  to  the  Treasurer  of  this  Commonwealth  twenty- 
five  cents  on  each  one  hundred  dollars  of  stock  held  and  paid  for 
in  said  Bank,  which  shall  be  in  full  of  all  tax  or  bonus:  Provided, 
That  the  Legislature  may  increase  or  diminish  the  same ;  but 
at  no  time  shall  the  tax  exceed  fifty  cents  on  each  one  hundred 
dollars  of  stock  paid  tor  in  said  Bank. 

Sec.  16.  That  the  Board  of  Directors  for  the  principal  Bank 
shall  allow  to  the  President  thereof,  and  to  the  Presidents  of  ^{"^  Presi- 
the  branches,  such  reasonable  compensation  fur  their  services  sano'n_  '^ 
as  they  may,  from  time  to  time,  deem  just;  but  no  compensation 
shall  be  allowed  to  any  Director  of  the  principal  Bank,  or  any 
of  the  branches,  unless  the  same  be  voted  by  the  stockholders, 
at  some  regular  meeting. 

Sec.  17.  That  it  shall  be  the  duty  of  the  President  and  Di-    Cashiers'  ac- 
rectors  of  the  principal  Bank,  and  they  arc  hereby  required,  as^°V"'^'°''^^** 
oitcn  as  once  in  every  month,  to  cause  a  strict  examination  to  be  jy 
made  of  the  accounts  of  the  Cashier,  and  a  full  and  complete 
statement  to  be  made  and  entered  on  the  journal  of  the  pro- 
ceedings of  the  board;  and  they  shall  cause  the  President  and 
Directors  of  the  several  branches  to  make  a  like  monthly  exami- 
nation and  statement  of  the  account  of  the  Cashiers  to  be  made 
and  entered  on  the  journals  of  their  proceedings. 

Sec.  18.  That  it  shall  not  be  lawful  for  the  Cashier,  Clerk, 
Teller,  or  other  subordinate  ofiicer  of  the  principal  Bank  or  any  of    Cashiers  and 
the  branches,  either  directly  or  indirectly,  to  engage  in  or  carry  on  no^'^'io  enffaffe 
any  other  business  than  that  of  said  Bank,  without  the  especial  in  other  busi- 
licenscof  the  President  and  Directtirs  of  the  principal  Bank;  nor"*^*"*'    "°j!^    ^* 
shall  any  of  them,  either  directly  or  indirectly,  become  indebted 
to  said  Bank,  either  as  borrower,  endorser,  surety,  or  otherwise;  presidmt  and 
and  it  shall  not  be  lawful  for  the  President  or  any  of  the  Direc- direetors  not  to. 
tors  of  said  Baidv  or  branches,  to  becouK)  b(xmd  as  surety  or  ac-'"^  endorsers. 
(X)mmodation  endorser,  on  any  note  or  bill  discoimtcd  at  said 
Bank;  and  a  violutionof  any  of  the  provisions  of  this  section  shall 
subject  the  pers'in  violating  the  same  to  a  penalty  of  five  thou- 
sand dollars,  to  be  recovered  in  the  name  of  the  corporation,  and 
for  the  use  of  the  Bank,  by  action  of  debt. 

Sec.  19.  That  if  the  Cashier,  Clerk,  Teller,  agent  or  other        ^^ 
officer  of  the  principal  Bnnk  or  any  of  the  branches,  shall,  with- the  Bank  who 
out  the  authority  of  the  President  and  Directors  of  thu  I'aiik  orn^t:  its  fund*  or 
branch,  as  the  case  may  be,  appropriate  any  of  the  funds  <A'  said 


10  CHARTER  OF  THE 

cori)onition  to  his  own  use,  or  to  that  of  any  other  person,  or  shall 

niixko  false  en-  uilfiillv  fail  to  make  eorrect  enlries,  or  shall  knowinirly  niako 

tries,  guilty  i>'"f„|.s,.  entries  on  the  books  of  the  Bank,  with  intent  to  cheat  or 

"^  '*"^"  (h'fiauii  the  eurporatidn  or  any  person,  or  to  hide  or  eoneeal  any 

improper  appropriation  of  tlie  finulsof  the  corporation,  the  officer 

so  oirciuliiiu  shall  hi;  tU-enied  guilty  of  felony,  and  shall,  upon 

con\  iftion  thereof,  he  sentenced  to  coMnncnient  in  the  jail  and 

piMiitfiitiary  of  this  State,  for  a  period  not  less  than  five,  nor  more 

than  twenty  years. 

Si;(\  2(V.  That  the  President  and  Directors  of  the  principal 
A  journal  of  Bank  shall  keep  a  record  or  journal  of  all  their  |)rocecdings, 
tluir  proceed-  which  thoy  shall  produce  to  the  stockholders  when  hy  them  de- 
•"^*the^''HuTk'"""''*^''  ^^  *"y  reo;ular  meeting;    and  they  shall   he  open  to 
and  branches"    inspection  and  examination  of  the  Governor  of  this  Common- 
wealth, or  anv  person  duly  authorized  by  him,  or  to  any  commit- 
tee appointed  by  the  Legislature;  and  the  President  and  Direc- 
tors of  the  principal  Bank  shall  cause  the  President  and  Directors 
of  the  branches,  to  keep  a  record  or  journal  of  all  their  pro- 
ceedings, which  they  shall  produce  to  the  President  and  Direc- 
toi-s  of  the  principal  Bank  at  all  times,  or  to  any  person  or  per- 
sons authorized  by  them  to  inspect  the  same,  and  which  shall  be 
open  to  the  inspection  of  the  Governor  of  this  Commonwealth,  or 
any  person  duly  authorized  hy  him,  and  to  the  stockholders  at 
anv  general  meeting,  or  to  any  committee  appointed  by  the  Le- 
gislature. 

Sec.  21.  That  the  President  and  Directors  of  the  principal 
Bank  shall  cause  their  Cashier  to  make,  quarterly,  on  the  first 
Memoran-  ^j.^y  ^^(  Januarv,  April,  July  and  October,  a  complete  memoran- 
&rto°3VnKuTj  ilu'ii  in  alphabetical  order,  of  all  the  debts  due  said  Bank,  setting 
out  quarterly,  out  the  amount  due  by  each  individual,  with  the  names  of  the 
enilorsers,  and  a  note  of  the  other  security,  the  date  of  the  notes 
or  bills,  and  when  payable — and  they  shall  cause  the  Cashiers 
of  the  branches  to  make  a  like  complete  memorandum,  in  alpha- 
betical order,  of  all  the  debts  due  at  the  several  branches,  by 
each  individual,  with  the  names  of  the  endorsers  and  other  secu- 
rity, and  tlie  date  of  the  notes  and  hills,  and  when  payable;  one 
copy  of  which  shall  be  retained  at  the  branch,  another  copy  shall 
be  transmitted  to  the  principal  Bank — and  these  memorandums 
shall  at  all  times  be  open  to  the  examination  of  the  President 
and  Directors  of  the  princii)al  Bank  and  Branches. 

Sec.  22.  That  it  shall  be  the  duty  of  the  President  and  Di- 

.  rectors  of  the  principal  Bank,  during  the  first  week  of  the  ses- 

to  be  macfc  to  sion  of  the  Legislature  in  each  year,  to  transmit  to  the  Secretary 

the    Secretary  of  State  an  accurate  and  just  statement  of  the  condition  of  the 

Uid  ^before  The  pnncipal  Bank  and  branches,  as  it  existed  on  the  first  day  of  the 

Legislature,      preceding  month;  which  statement  shall  specify  the  amount  of 

capital  stock   actually  paid  in,  and  the  amount  not  paid  in,  and 

the  value  of  the  real  estate  belonging  to  the  Bank,  and  its  cost; 

the  total  amount  of  debts  due  to  and  from  the  bank;  the  amount 


BANK  OF  KENTUCKY.  11 

of  gold  and  silver,  and  other  coined  metals  and  bullion  on  hand; 
the  amount  deposited,  the  amount  of  bills  in  circulation,  and  the 
amount  of  bills  on  hand  of  other  incorporated  Banks,  and  the 
amount  of  notes  in  circulation  of  each  denomination,  issued  bythe 
Bank,  the  rate  and  amount  of  each  dividend  of  profits  made  by 
the  Bank,  with  the  amount  of  surplus  profits  or  the  contingent 
fund ;  which  statement  the  Governor  of  the  Commonwealth  shall 
cause  to  be  laid  before  the  Legislature  of  Kentucky,  and  the 
same  shall  be  published  in  a  newspaper  printed  at  the  seat  of 
Government,  and  in  one  printed  in  Louisville,  at  the  expense  of 
the  Bank;  and  they  shall,  when  required  by  the  Legislature,  re- 
port all  bad  and  doubtful  debts. 

Sec.  23.  That  the  Presidents,  Directors,  Cashiers,  Clerks, 
Tellers,  and  other  officers  of  the  principal  Bank  and  branches,  All  the  officers 
previous  to  entering  on  the  discharge  of  their  duties,  shall  take  '°  ^^^^  ^"  °^'^- 
an  oath  before  some  justice  of  the  peace  of  this  State,  faithfully, 
honestly,  and  to  the  best  of  their  skill  and  judgment,  to  dis- 
charge all  the  duties  of  their  respective  offices  and  stations 
under  this  charter,  or  w  hich  may  be  required  of  them  bj'  the  by- 
laws, rules,  and  regulations  of  the  corporation ;  and  that  they 
will  not,  during  their  continuance  in  office,  sanction  or  permit 
any  of  the  provisions  of  this  charter  to  be  violated;  and  should 
any  such  violation  take  place  without  their  concurrence,  that 
they  will  immediately  communicate  the  same  to  the  Attorney 
of  the  Commonwealth  for  the  circuit  in  which  the  violation 
shall  take  place,  and  to  the  Attorney  General  of  this  Common- 
wealth. 

Sec.  24.  The  said  Bank  shall  not  contract  for  or  receive  a 
greater  rate  of  interest  than  at  the  rate  of  six  per  centum  per      ^late  of  in- 
annum  for  the  loan  or  forbearance  of  money;  and  the  interest  cgi^.gj  ^y  the 
on  promissory  notes,  negotiable  and  payable  at  said  Bank,  and  Bank, 
there  discounted,  shall  be  calculated  on  the  true  time  such  notes 
have  to  run,  including  three  davs  grace,  and  shall  be  paid  in 
advance,  on  Bank  prinrij^les,  and  in  conformity  with  llowlet's 
Tables  of  Discount  and  Interest. 

Sec.  25.  That  said  Bank  shall  not  make  any  loan  of  money, 
or  discount  any  note  or  bill,  on  the  pledge  of  the  stock  of  said 
Bank,  in  any  case  whatsoever;  and  no  stockholder  shall  be  ],g  „,jj°|g  ^J|,  ^ 
allowed  U)  pay  anv  debt  he  may  owe  the  Bank  by  the  surrender  pledge  of  stock, 
of  the  .stock  of  the  Bank,  until  all  the  notes  of  the  Bank  shall  b°''jj'''„i'endir 
have  been  redeemed,  and  all  the  debts  of  the  Bank  paid;  and^f  gtoj-k. 
stockholrlers  who  shall  become  indebted  to  the  Bank,  shall  be 
compelled  to  pay  their  debts  in  all  respects  as  other  |)ersons  deal- 
ing with  the  Bank;  nor  shall  any  stcx-kholdcr  be  allowed  to  make 
payment  of  the  shares  of  stock  held  by  him,  i)y  means  of  a  loan 
or  loans  f)iitairied  from  said  Bank. 

Sr^u  2<).  That  th(;  President  and  Directors  shall  issue  certifi- 
cates of  stork  ro  the  holders  thereof,  whenever  they  shall   l,e  Certificates  of 
paid  for;  and  the  sliares  of  tlic  capital  st(x;k  of  said  Bank  shall 


1-2  CHARTER  OF  THE 

bo  consitloreil  and  lield  in  law  as  personal  property,  and  assign- 
stock  to  br  is-  rti)lo  and  Iranstorablo  only  in  such  manner  and  at  such  place  or 
sued  tob.pov-    I  j^^  jli^.   President"  and   Directors  of  the  principal  Bank 

irniisiVniblo.      shall,  by  then-  l)y-la\vs,  |)rescrihe. 

Skc.  21.   The  certificates  oi"  deposite,  bank  bills  or  notes, 

Bank  not.  s,  bills  of  e.\chanf«c  or  orders  issued  by  said  Bank,  and  signed  by 

&1-.  obligatory,  (1,^,  President  and  coiintersi";ned  by  the  Cashier,  promising  or 

ihousili  not  nil-  .•         ii  i     !•  ."  J 

tier  xeiil— and  rcJinestmg  tlie  payment  ol  money  to  any  person  or  persons,  ana 
h>>\\  transiVr-  to  order  or  to  bearer,  as  the  case  may  be,  shall  be  obligatory  on 
'■'■''  said  Bank,  although  not  under  its  seal,-  and  such  of  said  notes  or 

bills  as  sliaU  be  payable  to  order,  shall  be  tranforable  by  assign- 
ment, and  those  made  payable  to  bearer,  by  delivery. 

Si:c.  28.  That  the  real  estate  purchased  by  said  Bank,  under 
u    1     tate  to  J"'^S'"^"^''  ^^'  •^^'^crees  in  its  favor,  or  under  judgments  or  decrees 
he  soKl  iu  five  of  Others,   when   it   shall   be   necessary  to  purchase   the   es- 
ytars.  {ate  in  order  to  secure  the  payment  of  some  debt  due  the  Bank, 

and  the  real  estalc  taken  in  payment  of  some  debt  due  the  Bank, 
shall  be  sold  by  the  Bank  within  five  years  next  after  the  estate 
shall  have  been  fully  ac([uired,  and  the  jK)ssession  taken  or  re- 
covered; and  on  their  failure  to  sell  the  estate  within  five  years, 
the  same  shall  be  vested  in  the  Commonwealth,  without  office 
found. 

Sec.  29.  That  the  general  meeting  of  the  stockholders  shall 
General  meet-  be  held  annually  on  the  first  Monday  in  May  in  each  year,  in 
in-fs  of  stock- tiic  city  of  Louisvillc,  at  the  time  of  the  annual  elections;   to 
"   '^''"  which  meeting  the    President  and  Directors  of  the  principal 

Bank  shall  present  an  accurate  statement  of  the  condition  and 
affairs  of  the  Bank;  and  general  meetings  of  the  stockholders 
may  be  called  as  provided  in  the  charter,  or  by  tho  President 
and  Directors  of  the  pinncipal  Bank,  when  they  esteem  it  desira- 
ble, or  by  any  niunber  of  stockholders  the  by-laws  of  the  corpo- 
ration shall  rctpiire. 
The  Lpoi.-la-      Sec.  30.  The  Legislature  shall  have  the  right  to  investigate 
ture  may  inve=-  ([^c  situation  and  aftliirs  of  the  Bank,  by  any  committee  they  may 
f  ^"'of  the*bank  app^^'^t  for  that  purpose,  from  time  to  time. 

Sec.  31.  The  general  court  shall  have  jurisdiction  to  try  the 

Forfeiture  forfeiture  of  this  charter,  for  violations  of  any  of  the  provisions 

of  the  charier,  qj"  jjje  game;  the  proceedings  shall  be  by  scire  facias,  alleging 

o«  trie  .        ^^^j  specifving  the  acts  of  forfeiture  relied  on;  and  shall  only  bo 

sued  out  at  the  instance  of  the  Attorney  General,  when  directed 

to  do  so  bv  order  of  the  Legislutnire. 

Sec.  32.  That  John  I.  Jacobs,  Edward  T.  Bairtbridge,  W. 
Commissioner?  H.  Pope,  George  Keats,  VV.  C.  Fellowes,  William  Bell,  Lcven 
to  open  book*  Shrieve,  George  Buchanan,  John  D.   Colmesnil,  Henry  For- 
Snsfo"r'3'''y''^*^^^"^  -^^""^^  Stewart,  of  Louisville;  and  John  W.  Hunt, 
Benjamin  Gratz,  Thomas  E.  Boswell,  Richard  Higgins  and  Elijah 
W.  Craig,  of  Lexington,  shall  be,  and  they  are  hereby  constituted 
and  appointed  commissioners  to  open  books  and  receive  subscrip- 
tions for  tlie  capital  stock  of  said  Bank,  and  to  superintend  the 


BANK  OF  KENTUCKY.  13 

election  of  the  first  Board  of  Directors ;  and  any  three  of  them 

shall  be  competent  to  exercise  the  powers  and  perform  the  du-      Powers  and 

ties  required  by  this  section.  commissbners^ 

Sec.  33.  The  said  commissioners  shall  have  power,  and  they 
are  authorized  and  required,  on  the  second  Monday  of  April, 
1834,  or  at  such  other  time  within  twelve  months  thereafter, 
as  they  shall  deem  expedient,  having  first  given  not  less  than 
thirty  days  notice  thereot',  in  some  of  the  newspapers  printed 
in  Louisville  and  Lexington,  to  open  books  for  the  subscription 
of  the  capital  stock  of  said  Bank,  at  Louisville  and  Lexington, 
and  at  such  other  places  within  the  State  as  they  may  deem  ad- 
visable; and  cause  said  books  to  be  kept  open  from  10  o'clock  in 
riie  morning  until  2  o'clock  in  the  evening,  for  at  least  twenty 
days,  and  until  at  least  ten  thousand  shares  shall  have  been  sub- 
scribed, when  the  san>e  may  be  closed ;  and  if  more  than  thirty 
thousand  shares  ?hall  'have  been  subscribed  by  individuals,  com- 
panies and  corporations,  the  said  commissioners  shall  deduct  the 
excess  from  the  largest  subscriptions,  in  such  manner,  that  no 
subscription  shall  be  reduced,  and  leave  the  subscription  of  any 
other  larger;  and  said  commissioners  may,  if  they  deem  it  advisa- 
ble, cause  books  to  be  opened  for  the  subscription  of  any  part  of 
the  stock  they  may  direct,  in  any  of  the  principal  cities  of  the 
United  States,  on  the  same  days  that  subscription  books  may  be 
opened  in  this  State. 

Sbc.  34.  That  if  the  whole  thirty  thousand  shares  of  capital 
stock  shall  not  be  taken  when  the  books  of  subscription  shall  ,.e.opened   an- 
first  be  opened  by  the  commissioners,  the  President  and  Direc-  nually  till  the 
tors  shall  cause  the  books  to  be  re-opened  annually,  on  the  first  *'°*^'' '*  ^'*^"- 
Monday  in  May,  or  at  such  other  time  in  the  year  as  they  may 
direct ;  and  cause  them  to  be  kept  open  not  less  than  twenty 
'days,  or  until  the  whole  balance  shall  be  taken;  and  the  Presi- 
dent and  Directors  may  require  such  premium  on  the  stock  sold 
at  the  re-opening  of  the  books,  as  they  shall  deem  right,  which 
premium  shall  be  the  property  of  the  Bank:  Provided,  it  shall     Proviso. 
be  the  duty  of  the  President  and  Directors  of  said  Bank,  if  the 
whole  stock  shall  not  be  sold  before  the  organization  of  the  prin- 
cipal Bank,  to  cause  books  to  be  opened  at  some  suitable  place 
or  places,  in  that  section  of  the  State  where  they  shall  be  about 
to  establish  a  bnmrh,  and  allow  to  the  subscribers  of  stock  at 
those  places,  the  hke  terms  as  though  they  had  been  original  sub- 
scribers. 

Sec.  35.  That  when  not  less  than  ton  thousand  shares  of  the 
capital  stock  shall  have  been  taken,  and  the  commissioners  shall 
have  closed  the  btxjks,  it  shall  be  their  duty  to  give  notice  in 
some  public  newspapers  printed  at  each  of  the  places  where  the 
books  may  have  been  opened  and  ptork  subscribed,  and  appoint 
a  dav  and  plare  in  the  ciiv  of  Louisville,  for  the  election  of  the  ..    ',  ,    .        , 

n       i>         1     !•  1   •  /■     "      •  1   r»  1        1     II  1     1  1    1     •       rt-  H  ir«(  election  01 

nrnt  iJoard  of  Directors  for  said  Bank,  who  shall  hold  their  ofiices  President   and 
until  the  succeeding  annual  election;  and  not  less  than  thirty  Directors. 


U  CHARTER  OF  THE 

nor  iiiDiv  than  sixtv  days  notico  shall  be  f^ivcn  ol'  the  tune  and 
place  of  cloctin;f  tiu;  saul  J{(Hir(l  of  Directors;  and  some  three  of 
the  coinniissioiicrs  shall  ai-t  as  inspet^tors  of  the  election,  and  shall 
take  the  proper  oaths,  and  j)erforin  all  the  duties  of  inspectors  of 
cleclious  in  like  cases. 

Skc.  'Mi.  That  payment  of  the  shares  of  the  capital  stock  held 
rnviucnu  for  ^^^  individuals,  coHiiKinies  and  corporations,  shall  he  made  in  gold 
anil  sd\  or,  and  at  the  tunes  and  m  the  manner  lollowmg,  to  wit: 
five  dollars  on  each  share  to  the  commissiojiers,  at  the  time  ot 
sul)siril)inj,%  and  five  dollars  on  each  share  within  ten  days  after 
the  election  of  the  lirst  Board  of  Directors,  and  twenty  dollars 
on  each  share  within  sixty  days  thereafter,  and  the  residue  shall 
be  paid  in  instalments  of  ten  dollars  on  each  share  every  ninety 
days  thereafter,  until  the  whole  is  paid. 

Sec.  37.  That  should  any  of  the  subscribers  to  the  capital 

stwk  of  said  Bank  t'ail  or  refuse  to  pay  for  their  stock  as  herein 

provided,  the  Pri;sidenf  and  Directors,  first  givinfr  public  notice  in 

Stock  may  'it  least  two  public  authorized  newspapers  printed  in  this  State, 

be  forfeited  for  for  thc  space  of  thirty  days,  by  a  resolution  entered  on  their  re- 

P^'^'l'^J"'"^'"*  cords,  may  forfeit  such  stock,  and  jjroceed,  at  such  time  as  they 

thereon.  may  deem  expedient,  to  re-sell  the  same;  and  all  partial  i)ay- 

nients  made  on  any  stock  which  shall  be  forfeited,  shall  be  held  for 

thc  benefit  of  the  Bank. 

Skc.  JW.  That  the  (iovernor  of  this  Commonwealth  shall  be, 
.Subscriptions  and  he  is  hereby  authorized  and  requested,  within  ten  days  after 
iKii-toTthe  state  t''<^  commissi(jners  shall  notify  him  that  ten  thousand  shares 
when  and  how  of  the  capital  stock  of  said  Bank  has  been  subscribed  by  indi- 
niade.  viduals,  companies,  and  corporations,  to  subscribe  for,  and  on 

account  of  this  Commonwealth,  twenty  thousand  shares  of  the 
capital  stock  of  said  Bank;  and  he  is  further  authorized  and  re- 
quested, when  the  third  instalment  shall  have  been  paid  by  in- 
dividuals, companies,  and  corporations,  on  the  request  of  the 
President  and  Directors  of  said  Bank,  to  pay  for  five  thousand 
shares  thereof,  by  executing  to  said  President  and  Directors,  the 
bonds  or  .scrip  of  this  Commonwealth,  for  five  hundred  thousand 
dollars,  in  such  amounts  as  they  may  require;  bearing  on  the 
face  an  interest  of  five  per  cent,  per  annum,  payable  by  this 
Commonwealth,  on  thc  first  Mondays  of  January  and  July,  in 
each  year,  at  the  principal  Bank,  and  redeemable  at  the  plea- 
sure of  this  Commonwealth,  at  any  time  within  five  years  afier 
the  expiration  of  this  charter;  and  when  one  million  of  dollars 
shall  have  been  paid  into  said  Bank,  by  individuals,  companies, 
and  corporations,  the  Governor  of  this  Commonwealth  is  further 
autliorizcd  and  requested,  on  the  application  of  the  said  Presi- 
dent and  Directors,  to  pay  for  five  thousand  additional  shares  of 
said  stock,  by  executing  the  like  bonds  or  scrip  of  this  Common- 
wealth, for  five  hundred  thousand  dollars,  bearing  like  inter- 
est; which  bonds  or  scrip  shall  be  received  by  said  Presi- 
dent and  Directors,  as    payment    in   full,  for   ten   thousand 


BANK  OF  KENTUCKY.  15 

shares  of  said  capital  stock;  and  it  shall  be  lawful  for  the  Presi- 
dent and  Directors  of  said  Bank  to  sell  and  transfer  said  bonds 
or  scrip,  and  by  endorsement  thereon,  to  agree  and  bind  the 
Bank  to  pay  the  interest  either  annually  or  semi-annually,  to 
whoever  may  be  the  holder  of  the  same,  without  any  demand 
beinf  made  upon  the  State  for  the  interest  thereof,  at  any  place 
or  places  within  the  United  States;  and  said  bonds  or  scrip  shall 
be  transferable  at  such  place  or  places,  and  in  such  manner  as 
the  President  and  Directors  of  said  Bank  shall  prescribe  by  tlieir 
by-laws;  but  the  same  shall  at  no  time  be  sold,  transferred,  or 
otherwise  disposed  of  by  the  President,  Directors,  and  Company 
of  the  Bank  of  Kentucky,  for  a  less  sum  than  the  nominal 
amount  of  any  such  bond  or  scrip,  with  the  interest  which  may 
be  due  thereon,  nor  until  the  whole  sum  for  which  the  same  may 
be  sold,  has  been  actually  paid ;  and  it  shall  be  the  duty  of  the 
President  and  Directors  of  said  Bank,  out  of  the  amount  which 
will  be  due  the  Commonwealth  on  the  stock,  to  redeem  the  afore- 
said bonds  or  scrip  without  charge,  and  pay  over  the  residue  to 
the  State.  The  Governor  of  this  Commonwealth  for  the  time 
bein"^.  shall  annually  nominate,  and  with  the  advic^  and  consent 
of  the  Senate,  appoint  tliree  Directors  on  the  part  of  the  Com-  Directors  on 
monwealth  in  this  institution,  who  shall  hold  their  office  until  the  part  of  the 
their  successors  may  be  duly  appointed  and  qualified;  and  if  any  State  to  be  ap- 
Director  thus  appointed  shall  vacate  his  oflice  by  death,  removal  P°'"  ^ 
from  the  State,  resignation,  or  otherwise,  the  Governor  is  hereby 
empowered  to  fill  the  vacancy.  And  should  said  Bank  go  into 
operation  during  the  recess  of  the  Senate,  the  Governor  shall,  as 
in  other  cases,  make  a  pro  tempore  appointment. 

Sec.  3U.  That  the  said  Bank  shall  annually  reserve,  out  of 
the  dividends  on  the  stock  of  this  Commonwelth,  the  five  per     Dividends  ot 
cent,   interest  per  annum  on  the  said  one  million  of  bonds  or  the  State  regu- 
scrip,  and  the  residue  of  the  dividends  on  the  stock  of  this  Com-  ^  ^ 
monwealth  shall  be  carried  to  the  payment  of  the  remaining  ten 
thousand  shares  of  the  stock,  belonging  to  the  Commonwealth, 
from  time  to  time,  as  the  dividends  shall  be  declared,  and  paying 
in  full  for  so  many  shares  as  the  dividends,  from  time  to  time, 
will  pay  for,  until  tlie  payment  of  the  whole  ten  thousand  shares 
is  fullv  made;  but  the  Commonwealth  of  Kentucky  shall  have 
the  right,  from  time  to  time,  to  devote  any  other  resources  she 
may  have  to  the  payment  of  said  stock. 

Sec.  40.  That  so  stxin  as  three  hundred  thousand  dollars  of 
the  capital  sto<:k  shall  have  been  paid  in  by  individuals,  compa- 
nies, or  coqKjrdtions,  in  gold  or  silver,  the  Presidcntand  Directors 
j*hall  cause  the  Governor  of  this  Commonwealth  to  be  notified 
thereof,  who  is  hereby  authorized  to  app(jint  some  suital>le  person         When  tiie 
to  count  the  money  so  paid  in  as  capital  .st(jck,  and  to  take  the  oath  Rank  is  tocom- 
of  the  Presidcntand  not  less  than  six  of  the  Directors,  that  the  ""^"<=^  ^"*'"*=" 
same  has  been  paid  in  as  riij)ital  stock  hona  fide,  and  n)ake  duo 
return  thereof  to  him;  and  on  such  appearing  to  be  the  fact,  the 


IG  CHARTER. 

Govornor  is  authorized  to  issue  his  proclamation,  that  the  amount 
luTchy  rtMiuircd  Jo  he  paid  in,  and  in  the  t'tnids  hereby  required 
has  l)("»'n  dour,  and  that  said  IJanlv  is  authorized  to  commence 
its  (ipcM-atidiis  as  a  hankin<^  institution;  and  from  and  after  the 
first  pubhcafidn  of  such  proclamation,  it  shall  be  lawful  for  said 
Bank  to  coinintMicc  liusincss. 

8i;('.    11.  'I'iiat  no  one   individual,  company,  or  corporation. 
Amount  of  shall  ho  allowed  to  take  or  hold  more  than  two  thousand  shares 
h°'  kur*"  l'"  'l!  '*'  '''*^  capital  slock  of  said  l)auk,  cither  in  their  own  names,  or  in 
limited.    '    '  '  tho  name  of  others  in  tru.st  tor  them;  and  all  stock  that  any  indi- 
vidual, company,  or  corporation  shall  take  or  hold,  contrary  to 
this  |)rovision,  shall  be  forfeited  to  the  Bank  for  the  benefit  of  the 
No  stock  to  be  Other  stockholders;  and  no  individual,  company,  or  corporation, 
voted     excriit  shall  be  allowed,  in  person  or  by  pro.xy,  to  vote  at  the  first  elec- 
owne''r°"Lr1'or^''^"  ^^  Directors,  on  any  stock  which  may  stand  in  his,  her,  or 
their  name,  without  first  making  oath  that  the  stock  bona  fide  be- 
longs to  them,  and  is  not  held  in  trust  for  others. 
Notes  receiv-      Sec.  42.  Be  it  further  C7iacted,  That  the  bills  or  notes  of  the 
meat's"  "to  ''die  ^^'^'  ^o'"P^''^f'^"»  Originally  made  payable  to  bearer,  shall  be  re- 
state! ami  for  ceivablc  in  all  payments  to  the  State,  and  on  account  of  County 
County  levies,  levies,  unlcss  Otherwise  directed  by  law. 


BY-LAWS  AND  RULES 


OF 


THE  BANK  OF  KENTUCKY. 


Art.  1.  The  Bank  shall  be  open  for  ordinary  business  from 
10  O'clock  in  the  jnoniing  till  2  o'clock  in  the  afternoon,  every     Bank  hours. 
day  in  the  year,  excepi  Suntlays,  Christinas  day,  the  4th  of  July, 
and  such  other  days  as  may  be  ordered  by  the  Board  of  Direc- 
tors. 

Art.  2.  The  Bank-  shall  take  charge,  free  of  expense,  of  the 
cash  of  all  such  pereons  as  may  choose  to  place  it  there,  (except 
where  the  account  is  ordered  to  be  closed,)  and  shall  keep  it,  sub- 
ject to  the  order  of  the  depositor,  payable  at  sight:  and  shall  also  Depositcs. 
receive  special  depositcs  of  ingots  of  gold,  bars  of  silver,  wraiight 
plate,  and  othor  valuable  articles  of  small  bulk,  f^r  safe  keeping, 
at  the  risk  of  the  depositor. 

Akt.  3.  All  bills  and  notes  olTcred  for  discount  shall  be  de- 
livered into  the  Bank  f)n  Saturdays  and  Wednesdays,  in  each  week.      When  notes 

during  banking  hours,  and  shnll  be  laid  before  the  Directors  on  f"'' '''."*  ^'"V* 
11*       1  1    rni  1  ,  t.     1   1      1      •        1  ■  r  .1      '"'   oltii-ed    tor 

Monday  and  1  nursdnv,  at  S  oxiock  m  the  monung,  trom  the  jig^oimi, 
first  of  April  to  the  first  of  October,  and  at  9  o'clock  from  the 
first  of  October  to  the  first  of  April,  together  with  a  statement  of 
the  situation  and  funds  of  the  Bank,  the  credit  books,  of  notes  and 
bills  disc(juntcil,  and  all  sudi  oilier  books  as  the  Bourd  may  re- 
quire, on  whi'di  days  the  discount  shall  be  settled,  aiul  such  as 
shall  1)0  adttiittod  shall  pass  to  the  credit  of  the  applicants,  as  of 
the  same  day  on  which  they  are  discounted,  and  those  notes  or 
bills  not  discountcfl  shall  be  returned  at  any  time  after  twelve 
o'clock  on  the  same  <lay. 

Art.  4.  The  rate  of  discount  shall  not  exceed  one  half  of 
ono  per  centum  f<>r  thirty  days,  and  the  discounts  shall,  ordina-     Interest, 
c 


18  BY-LAWS  AND  RULES  OF 

lily  lio  iiKulo  upon  personal  security,  witli  :it  least  two  responsi- 

KiulorsoM.     bio  names — (lie  fniu  of  a  house  beinjf  considered  as  one  name 

only;  but  in  special  cases  they   may  be  made  on  such  other 

I  iir  security.  ^^^^,jii.jj^.   ^^^   ^^^^^^   ^^^  accepicd  and  a|)proved  as  sudicient   by 

iJie  JJiiaril  of  Directors,  or  by  the  President  and  such  committee 
as  shall  bo  invested  by  the  Board  with  the   power  of  making 
In  cases  of '^i*"^"^^'"^*'     ^"  ("^■'*t!>^  iil^"  ^^'  uiistake  or  accident,  or  urgent  ne- 
urgtiicv.lVtsi-cessity,  when  the  Board  or  a  committee  cannot  be  in  session  to 
dint  to  act.       ^.^  j^  „^,(^.  ,„,^y  ^o  renewed  or  discounted,  according  to  the  sound 
discretion  and  judgment  of  the   President,  and  reported  at  the 
next  meeting  of  the  Board.     At  the  meetings  of  the  Board,  no 
bill  or  note  shall  be  discounted  or  renewed  if  opposed  by  one- 
Iburth  of  the  Directors  present,  and  no  committee  shall   be  in- 
vested with  tlie  power  of  making  discounts  when  the  appointment 
shall  be  opposed  by  one-fourth  of  the  Directors  present.     No 
Oirirors  not'"'^'**^^  money  shall  be  granted  on  paper  where  the  name  of  ei- 
to  be  iliawers  tlicr  tlic  Cashier,  or  a  Clerk,  or  a  Porter  in  the  Bank  shall  appear 
or  endorsers,     q^  drawer  or  endorser. 

Art.  5.    Every   discounted  note    or  bill  that  shall  remain 
unpaid  on  shutting  of  the  Baidi  on  the  last  day  of  grace,  (or  if 
bills,  itiiniiairi,  tlis  last  da\'  of  grace  should  be  on  Sunday,  or  on  a  day  when 
when  and  how  the  Bank  shall  not  be  open  for  ordinary  business,  then  on  the 
jirotcsted.         second  day  of  grace,)  shall  forthwith  be  delivered  to  the  Notary 
for  protest,  whose  duty  it  shall  be  to  give  proper  notice  thereof 
forthwith  to  the  endorser  or  endorsers,  and  to  jjrotcst  the  said 
note  or  bill,  and  to  make  a  record  or  memorandum  of  the  time, 
manner  or  circuiiistances  of  doing  the  same,  and  make  report  to 
the  President  or  Cashier,  who  shall  cause  the  same  to  be  noted 
in  a  book  to  be  kept  in  the  Bank  for  that  purpose;  and  while 
such  note  or  bill  remains  unpaid,  no  discount  or  accommodation 
shall  be  granted  to  any  drawer,  endorser,  or  acceptor  of  the 
Proceeclints  same.     Bills  and  notes  deposited  for  collection,  at  any  time  be- 
on    bills    and  fore  the  commencement  of  the  days  of  grace,  shall  be  proceed- 
collecti  II    ^"'^ ^^  ^^''^1  '^s  '^'"^  '"^*^'  notes  discounted,  unless  the  person  deposit- 
I'roviso         "^S  ^'^^  same  shall  otherwise  direct  in  writing:  Provided,  That 
in  case  of  non-payment  and  protest  the  person  lodging  the  same 
shall  pay  the   charges  of  protest.     Bills  and  notes  may  be  re- 
ceived tor  collection  after  the  commencement  of  the  days  of 
gi-acc,  in  cases  where  the  President  or  Cashier  shall  so  dirCet: 
I      'u"  ' '!  but  in  such  cases  the  Bank  will  not  give  notice,  make  demand, 

I. link    will  n(jt  ^  -11 

l,ioti=t.  or  be  bound  to  cause  the  protest  to  be  made,  but  the  bill  or  note,  or 

the  money  received  for  it,  as  the  case  may  be,  shall  remain  sub- 
ject to  the  order  of  the  depositor,  in  the  same  manner  as  other 
deposites.    .Bills  and  notes  to  be  sent  to  other  Banks  for  collec- 
Rl^k.  ^if,[,^  ii[yd\\  be  at  the  risk  of  the  depositor,  who  shall  be  subject  to 

all  charges  and  expenses  res|)ecting  the  same. 

Art.  G  .  On  every  discount  day  the  name  of  every  person 

Ovcrdrawf.rs  who  shall  have  overdrawn,  or  attempted  to  overdraw,  on  the 

to  be.rcporitd.  Bank,  sincc  the  last  discount  day,  shall  be  reported  to  the  Board; 


THE  BANK  OF  KENTUCKY.  19 

and  no  person,  while  he  remains  an  overdrawer,  shall  have  any 
bill  or  note  discounted;  and  in  no  instance  will  the  Bank  give  a     Overdrawers 
release  or  discharge  to  anv  debtor,  where  the  debt  arises  from  °  ..IfA^  "°    '*' 
overdraft;  and  any  clerk  who  shall  knowinjjjly  sufter  an  over-Qipj.j.^  ^^^jj^j^^ 
draft  to  be  made  on  the  Bank,  or  who,  after  having  discovered  known     over- 
all overdraft  to  have  been  made,  and  shall  not  immediately  com-  '''"afts. 
municate  the  same  to  the  President  and  Cashier,  shall  be  dis- 
missed from  the  service  of  the  Bank;  and  all  deficiencies  in  the  Deficiencies  in 
cash  of  the  Bank  shall  be  chargeable  to  the  person 'with  whom  they  cash. 
occur. 

Aet.  7.  Every  person  who  opens  an  account  and  transacts 
business  with  the  Bank,  shall  subscribe  his  name  in  a  book  to  be 
called  the  Book  of  Signatures,  to  be  kept  in  the  Bank  for  diatj^j^j^J^"^  °  *'=' 
purpose ;  and  the  President  or  Cashier  may  also  require,  at  hig 
discretion,  from  any  house  or  firm  doing  business  with  the  Bank, 
and  consisting  of  more  than  one  person,  a  declaration  of  the 
names  and  surnames,  and  ])lacesof  residence,  of  the  persons  who 
compose  such  firm ;  and  that  each  person  belonging  to  such  firm, 
if  residing  in  Louisville,  shall  subscribe  in  the  book  of  signatures,  ^^  ,ne,|bers  "^of 
and  insert  therein  the  names  of  his  partner  or  partners.     And  the  fimis. 
President  and  Cashier  shall  be  authorized  to  close  such  accounts   How  accounts 
as  they  may  deem  necessary  for  the  safety  and  convenience  of  "'^y  ^^  closed. 
the  Bank,  and  shall  report  their  proceedings  and  reasons  therefor 
to  the  board  at  the  next  meethig,  which  shall  be  subject  to  the 
decision  of  the  board. 

Aet.  8.  The  Bank  shall  receive  all  specie  coin  according  to 
the  rates  and  value  established  bv  Congress ;  and  no  gold,  silver,     ,  Legal  coins 

*"       .  o         /  ^  Onlv   to    1)6    TB* 

or  copper  coin,  other  than  such  as  is,  or  shall  be,  authorized  by  ceived. 
the  laws  of  the  United  States,  shall  be  receivable  as  money  at 
the  Bank.  And  all  payments  made  at  the  Bank  shall  be  exam- 
ined at  the  time,  and  if  any  error  be  then  found,  it  shall  be  im- 
mediately corrected ;  but  no  error  suggested  afterwards  shall  be 
admitted,  unless  such  error  shall  be  apparent  from  the  cash  set-  Errors. 
tlement  of  the  day. 

Art.  9.  The  books  and  accounts  of  the  Bank  shall  be  kept 
in  dollars  and  cents,  and  shall  be  regidarly  balanced  on  the  first 
Monday  in  July  and  January — o{i  which  days,  respectively,  j^  j^g  balanced. 
the  half  yearly  dividend  shall  be  declared,  and  published  in  two     Dividend  de- 
of  the  newspapers  of  the  city  of  Louisville.     For  twenty  days  dared. 
immediately  preceding  the  day  appointed  for  declaring  the  half  uooks  of  trans- 
yearly  dividend,  the  books  of  transfer  shall  be  shut.     The  ac-  fcr  to  be  shut. 
count.s  of  the  Bank  with  other  institutions  shall  be  adjusted,  and  Accounts  with 
balances  confirmed,  as  often  as  <jnce  in  every  three  months;  and  "jj^.'i^^^ijl'ccd**  ^ 
each  iMXtk-kcepcr  shall  constantly  keep  every  account  in  his 
Icger,  so  pencilled  up  as  to  exhibit  the  balance  of  each  at  the 
first  inspection. 

Art.  10.  In  all  cases,  when  rc(iuircd,  the  ( 'ashier  shall  ac-  C;i>.hi(  r  to  ac- 
cept powers  of  attorney  for  receiving  any  dividend  or  interest  J"  1'' P*^*^*^"  °' 
due,  or  to  become  due,  on  any  shares  in  this  Bank,  which  divi- 


20  BY-LAWS  AND  RULES  OF 

dcnd  or  interest  shall  be  held  by  the  Bnuk,  sul)ject  to  the  order 

of  the  proprietor,  free  from  charge.     The  President  and  Direc- 

Quartcrly  lists  tors  slirtll  cause  the  Cashier  to  make  quarterly,  on  the  first  day 

of lUi'is ihif  ro-  of  Jniiuarv,  Aiu-il,  .lulv.  nud  October,  a  complete  meniorandura, 

qiiinilol  Lush- •         i    i     i  '.•      i         i        '  ,•     ii  ,i        i    i,      (        ,i       i>      i  .,•  , 

i\,rs  in  alpliabctical  order,  ol  all  the  (ie!)ts  due  the  IJauK,  setlmg  out 

tlio  amount  due  by  each  iudiv idual,  with  the  names  of  the  en- 
dorsers, and  a  note  of  the  oilier  security,  the  date  of  the  notes 
or  bills,  and  when  payable.     And  Uiey  shall  cause  the  Cashiers 
of  the  brancdies  to  make  a  like  com|tlclc  memorandum  of  all 
List  of  lid. ts  the  debts  due  at  the  several  branches,  Uy  each   iudividoal,  with 
due    brnnclusthc  names  of  the  endorsers  and  other  security,  and  the  dates  of 
required.  ^j^^^  notes  and  bills,  and  when  j)ayal)le;  one  copy  of  which  shall 

be  retained  at  the  branch,  another  co|)y  shall. be  transmitted  to 
the  principal  Bank;  and  these  memorandmns  shall,  at  all  limes, 
be  open  to  the  examination  of  the  President  ajid  Directors  of  tho 
principal  ]}ardv  and  branches.  And  Ji  shall  be  the  duty  of  the 
President  and  Directcjrs  of  the  Bank  to  transmit  to  the  Secretary 
Report  to  the  of  State,  during  the  first  week  of  the  session  of  the  Legislature, 
Lc-islaturc.  in  each  year,  an  accurate  and  just  statement  of  the  condition  of 
the  princij)al  Bank  and  branches,  as  it  existed  on  the  (irst  day  of 
the  preceding  month;  which  statement  shall  specify  the  amount 
of  capital  stock  actually  paid  in,  and  the  amount  not  paid  in; 
and  the  value  of  the  real  estate  belonging  to  the  Bank,  and  its 
cost;  tlie  total  amount  of  debts  due  to  and  from  the  Bunk;  the 
amount  of  gold  and  silver,  and  other  coined  metals,  and  bullion 
on  hand;  the  amount  deposited;  the  amount  of  bills  in  circula- 
tion, and  the  amount  of  bills  on  hand  of  other  incorporated 
banks,  and  the  amount  of  notes  in  circulation  of  each  denomina- 
tion issued  by  the  Bank;  the  rate  and  amount  of  eacJi  dividend 
of  profits  made  by  the  Bank,  with  the  arnoiuif  of  surjjlus  profits 
or  the  contingent  fund;  and  shall,  when  rctpiircd  by  the  Legis- 
lature, re|)ort  all  bad  and  doubtful  debts.  It  shall  be  the  duty  of 
the  President  and  Directors  of  this  ]i;mk,  as  often  as  once  in 
Monthly  r\am- '^^'cry  iiK'nth,  to  causc  a  strict  cxnminalion  to  be  made  of  the 
luM'um  of  ac- accounts  of  the  Cashier,  and  a  full  and  complete  statement  to 
it"^"'  "'^  ^"'''  ^^  "^'^^^  ""^  entered  on  the  journal  of  the  proceedings  of  the 
board;  and  they  shall  cause  the  President  and  Dii-ectors  of  the 
several  branches  to  make  a  like  monthly  examination  and  state- 
ment of  the  accounts  of  the  Cashiers  to  be  made  and  entered  on 
the  journal  of  their  proceedings. 

Art.  11.  If  any  person  claims  a  certificate  of  Bank  stock 

Hownewcerti-to  be  issued  in  lieu  of  one  lost  or  destroyed,  he  shall  make  an 

ficate  of  stork  aHiilavit  Or  afiirmation  of  the  fact,  and  state  the  circumstances 

liiay  be  obiain-  ^f  jlic  loss  or  <Icstruction,  and  he  shall  advertise  in- one  or  more 

of  tlic  papers  in  Louisville  twice  a  week,  fi)r  the  space  of  six 

months,  an  account  of  the  loss  or  destruction,  describing'  the 

certificate  and    calling  on  all    persons  to  show  cause  why  a 

new  certificate  shall  not  be  issued  by  the  Bank  in  lieu  of  the 

one  lost  or  destroyed,  and  he  shall  transmit  to  the  Bank  his 


THE  BANK  OF  KENTUCKY.  21 

affidavit  or  affirmation,  with  the  advertisements  before  men- 
tioned, and  he  shall  give  to  the  Bank  a  bond  of  indemnity 
with  one  or  iiiore  sureties,  if  so  required,  in  the  sum  of  one 
hundred  and  filry  dollars  on  each  share  to  be  renewed,  against 
any  daniajre  thai  may  arise  fi-om  issuing  the  new  certificate; 
whereupon  (he  Cashier  shall,  two  months  after  the  last  advertise- 
ment as  aforesaid,  issue  a  new  cerlilicate  of  the  same  tenor  with 
the  one  alleged  to  be  lost  or  destroyed,  and  therein  specifying 
that  it  is  in  lion  (hereof. 

Art.  l*-^.  The  s(()ck  of  this  Bank  shall  be  assignable  and  trans- 
ferable at  iho  Bank  in  Louisville,  and  in  other  places  where  the     Where  stock 
Bank  shall  appt»int  agents  l(tr  this  purpose,  personaJly  by  the  "^''•'^^  ,     trans- 
stockholde)-,  or  by  his  attorney,  upon  die  surrender  of  the  certi- 
ficate thereof. 

Art.  13.  In  [>laces  where  the  Bank  shall  api>oint  an  agent 
for  this  pui'posc,  an  assignment  or  transfer  endorsed  upon  the        Stock  how 
cer(i(ica(e,  signed  by  the  prmcipal  or  his  attorney,  and  attested '^'"^"s'^^e'l' 
by  (he  agen(,  shall  be  of  the  same  effect  as  if  the  stockholder  or 
his  attorney  had  personally  executed  and  delivered  the  same  at 
(he  Bank  of  Ken(ucky. 

Akt.  11.  Powers  of  attorney  (o  ti-ansfer  stock,  or  to  receive 
dividends,  .«hall  he  aothenticatcd  by  a  Notary  Public  under  his  Powersofat- 
notarial  seiil,  or  l)y  the  ii(f.estation  of  two  Mitnesses  and  proof  by  f°''"^>'  ^°y'  ^° 
one  of  them,  or  by  the  a((estation  of  one  w  itness,  and  an  acknow- 
ledgement by  the  principal,  before  a  justice  of  the  peace,  and  by 
him  ceitilicd  under  his  seal;  but  the  power  of  dispensing  with 
these  uKxlcs  of  a  (testation  in  certain  cases  is  reserved  to  thePre- 
siden(  and  Directors. 

Akt.  15.  Wiiliriut  the  special  authority  of  the  board,  no  Di- 
recior  excepl  ihe  Presidr'n(,  shall  1)0  ()crinitted  to  inspect  the  run- President  only 
ning  or  cash  account  of  any  person  wtlh  the  Bnnk;  and  no  Di-t^  examine  run- 
reclor  is  permiKed  to  divulge  any  of  the  confidential  measures  of  counts. 
the  Bank,  pnniiied  diev  are  noi  in  opposition  to  the  charter;  and      Frorredings 
as  (he  interest  of  the  Bank  requires  the  free  and  unreserved  jn.'^°"""^"*^'*'' 
tcrchangc  of  opinion  of  the  Directors,  more  |>articularly  in  the 
operation  of  discounts,  no  member  is  permitted  to  reveal  the  opi- 
nion or  vote  given  on  any  mntters  relating  thereto. 

Akt.  1(5.   The  regular  annual  meeting  of  the  stockholders 
shall  l>c  on  (he  first  Monday  in  Mav,  at  the  Banking  house  in 
the  city  of  Louisville,  nt   U)  o'clock,  A.  M.,  and  immediately  i,,^,""^'/''^^^^/,^^ 
after  its  adjouniiuent,  (he  election  of  Directors  shall  lie  held,  and  holders. 
continue  open  until  '.i  o'clock  in  the  iiftrriKKin,  or  until  such  sub-        ElerUonof 
sequent  hour  as  shall  bo  deemed  cxiiediont  by  the  judges  of  the 
electirm. 

Art.  17.     In  every  election  to  an  office  (except  that  of  Presi- 
dent) by  the  lMj;ird,  there  shall  be  a  nominntion  of  the   crindi-       Election  of 
date  at  a  previous   meeting.     In  (he  elcc(ion  for  a  l*rrsiflent,  aoT"*''".  how  to 
Ca.shier  or  any  Clerk,  a  majority  of  the  votes  of  all  the  Direr- '^'^'^°"^"^'''''- 
tors  present  shall  be  necessary  in  order  to  render  it  valid.     In 


•Ji  BY-LAWS  AND  RULES  OF 

tho  election  fur  Cu^illicr  or  any  Clerk,  the  ballots  shall  be  fn'st 
taken  lor  all  the  candidates,  anil  it"  ii[)()ii  oxanunation,  no  one  shall 
have  a  majority  of  the  votes  of  all  the  Directors  |»resent,  then 
tlic  three  candidates  having  the  hifi;hest  number  shall  be  voted 
for  again,  and  in  case  no  one  shall  then  appear  to  be  duly  elected, 
tlio  ballots  shall  be  taken  on  the  two  highest. 

Akt.  Its.  Before  entering  upon  the  duties  of  office,  the 
5^^''_J^l';'"*  ^"  S"''<^  Cashier  and  each  Clerk  in  the  Bank,  shall  give  bond  with  two 
or  more  sureties,  to  be  approved  by  the  Board  of  Directors,  for 
his  good  behaviour  and  (he  I'aithful  discharge  of  his  duties,  and 
trust  reposed  in  him,  in  the  following  sums,  that  is  to  say :  The 
Cashier  in  the  sum  of  lifly  thousand  dollars;  the  paying  Teller 
in  the  sum  of  twenty -five  thousand  dollars;  the  receiving  Teller 
in  the  sum  of  twenty  thousand  dollars;  each  of  the  other  Clerks 
in  the  sum  of  live  thousand  dollars;  and  the  Porters  in  the  sum 
of  two  thousand  dollars  each.  The  President,  Directors,  Cashiers, 
Clerks,  Tellers,  and  other  officers  of  the  principal  Bank  and 
brandies,  previous  to  entering  on  the  discharge  of  their  duties, 
Form  of  oath  shall  take  an  oath  before  some  justice  of  the  peace  of  this  State, 
to  be  taken.  faithfully,  honestly  and  to  ihc  best  of  their  skill  and  judgment,  to 
discharge  all  the  duties  of  their  respective  offices  and  stations 
under  this  charter,  or  which  may  be  required  of  them  by  the  by- 
laws, rules  and  regulations  of  the  corporation;  and  that  they  will 
not,  during  their  continuance  in  office,  sanction  or  permit  any  of 
the  provisions  of  this  ciiarter  to  be  violated;  and  should  any  such 
violation  take  place,  without  their  concurrence,  that  they  will 
immediately  communicate  the  same  to  the  Attorney  General  of 
tliis  Commonwealth. 

Art.  19.   The  President  shall  retain  and  exercise  all  the 

rights  and  privileges  w  hich   belong  to  any  Director.     He  shall 

be,  ex  officio,  a  member  of  every  committee,  except  in  special 

Powers  and  Cases,  where  it  shall  be  ordered  otherwise  by  the  Board.     He 

duties  of   the  shall  preside  and  keep  order  at  all  meetings  of  the  Board.     It 

President.        gj^^^jj  ^^  j^jg  j^^jy  ^^^  j.^jt^  j^^j^  j^jg  custody  at  the  Bank,  the  plates, 

paper,  moulds  and  bank  paper,  and  the  seal  of  the  corporation  j 
to  superintend  and  direct  the  printing  of  all  bills  or  notes  ordered 
by  the  Directory  to  be  printed,  and  to  keep  a  regular  account  of 
the  bank  paper  in  his  custody,  and  the  quantity  ordered  from  time 
to  time  for  impression,  which  account  shall  be  checked  by  exami- 
nations of  the  committee  on  the  state  of  the  Bank,  It  shall  also 
be  his  duty  to  exercise  a  supervision  over  all  the  concerns  of  the 
corporation — to  superintend  the  official  conduct  and  duties  of  all 
persons  employed  in  the  Bank — to  sign  bills  and  notes  which 
shall  be  issued  by  the  Bank — to  cause  the  seal  to  be  affixed  to  all 
such  instruments  and  documents  as  the  Directors  shall  order — 
and  to  call  special  meetings  of  the  Directors  whenever,  in  his 
opinion,  such  meeting  may  be  required  by  the  interest  of  the 
Bank ;  and  it  shall  be  his  duty  to  call  a  meeting  when  requested 
by  two  members  to  do  so. 


TIIE  BANK  OF  KENTUCKY.  23 

Art.  20.  It  shall  bethe  duty  of  the  Cashier  to  countersign 
at  the  Bank,  all  bills  and  notes  to  be  signed  by  the  President,  or  Duties  of  the 
by  order  ot"  the  Board — to  superintend  the  opening  and  keeping 
of  the  legers,  and  all  the  other  books  used  in  the  Bank,  and  also, 
the  books  for  the  registry  of  the  issues  and  tranfers,  and  for  the 
payment  of  dividends — carefully  to  observe  the  conduct  of  all 
officers  employed  under  him,  and  to  report  to  the  President  or  to 
the  Board,  such  instances  of  neglect,  absence,  incapacity  or  bad 
conduct,  as  shall  come  to  his  knowledge,  in  any  of  them — daily 
to  examine  the  settlement  of  the  cash  account  of  the  Bank — to 
take  charge  of  the  cash,  and  whenever  the  actual  amount  disa- 
gi-ees  with  the  balance  of  the  cash  account,  report  the  same  to  the 
President  and  Directors  without  delay — to  attend  all  meetings  of 
the  Board,  keej)  a  fair  and  regular  record  of  its  proceedings — 
give  such  information  to  the  Board  as  may  be  required — consult 
with  committees,  when  requested,  .on  subjects  referred  by  the 
Board ;  and  also,  to  perform  such  other  services  as  may  be  re- 
quired of  him  by  the  Board  or  the  President. 

Art.  21.  All  uificers  or  persons  in  the  employ  of  the  Bank 
are  chosen  or  appointed  by  the  Board  of  Directors,  and  hold     How  officers 
their  ollices  and  employments  during  the  pleasure  of  the  Board ;  are  appointed ; 
their  salaries  are  fixed  by  resolution  of  the  Board.     The  Cashier  gglg".';^"  °i^t'^of 
shall  lay  before  every  Board  of  Directors,  on  their  entering  officers  to   be 
into  office,  a  list  of  the  officers  and  persons  employed  in  the  pa^^e  by  Cash- 
Bank,  with  their  salaries,  the  names  of  their  securities,  and  the 
amount  for  which  they  are  bound.     It  shall  be  the  duty  of  the 
Board  of  Directors  to  take  order  on  said  list  of  officers,  as  to 
their  fitness  and  other  qualities,  and  the  sufficiency  of  their  se- 
curities. 

Art.  22.  Every  Clerk  or  person  in  the  employ  of  the  Bank 
shall  give  his  attendance  and  labor  in  the  Bank  as  long  as  his  Attendance  of 
service  may  be  required  by  his  regular  business,  or  by  the  Cash-  officers. 
ier,  the  President,  or  the  Board;  and  all  cases  of  neglect  or  re- 
fusal shall  be  reported  to  the  Board.     Any  application  for  leave     Leave  of  ab- 
of  absence,  by  a  Clerk  or  person  in  the  euiploy  of  the  Bank,^^"'^^- 
shall  be  nrade  to  the  President  and  Cashier,  who  shall  grant  or 
refuse  the  same  as  they  may  deem  expedient.     And  neither  the 
Cashier,  nor  a  Clerk,  nor  a  Porter,  shall  carry  on  any  other  bu- 
siness tlian  that  of  the  Bank,  nor  engage  in  any  employment  Officers  not  to 
wliich  can  withdraw  his  attention  from  his  duties  in  the  Bank j^^'iraS'^y' other 
and  no  Clerk  or  Porter  shall  have  an  account  in  the  Bank,  but 
may  receive  liis  .salary  from  the   Cashier  at  the  end  of  each 
month. 

Deliberate  Proceedings  of  the  Board  of  Directors. 

Art.  23.  The  Directors  shall  assemble  at  the  Bank 'on  every 
Monday  and  every  Thursday   morning,  at  8  o'clock,  from  thu       Meetings  of 
first  <tf  A[)ril  t(j  the  first  of  (Jctober,  and  at  1)  o'clock,  from  tlicthc  Board, 
first  of  October  to  the  first  of  April,  for  the  purpose  of  discount, 


o  J  BY-LAWS  AND  RULES  OF 

ami  iloiiiji  aiiyotlicr  hnHinct^s,  unless  (lioso  clays  or  either  of  them 
Kxcopiion.     viliail  tlill  on  any  of  the  days  c\ic[)tC(I  in  tlio  iirst  article. 

Akt.  'J  1.  When  tiio  Tresiilent  takes  tiic  eiuiir,  the  inonihcrs 
shall  lake  their  seats,  and  jiive  their  attention  to  the  business  be- 
J^.^^'^^^^'i'orc  thelioanl.  The  Cashier  shall  lay  before  tlie  Board  the 
{js.  ^^^^^^  ^^^.  ^j^^  iJank,  inciudinjf  balances  with  the  city  Banks  re- 
spcctiveh,  the  antount  of  tiic  ineotne,  and  of  tlie  notes  and  bills 
oliered  fur  disiuunt,  and  the  overdrafts,  or  attempts  to  overdraw, 
since  the  last  discdvait  day — as  also,  the  correspondence  of  the 
Bank.  All  notes  or  bills  (jlfcred  Ibr  discount  shall  then  be  consi- 
dereil  by  the  JJuard,  and  decided  on.  The  niinules  of  the  i)reced- 
in'f  meeting  sliall  then  be  read,  if  any  member  shall  so  require, 
but  no  debate  shall  be  admitted,  nor  question  taken,  on  the  busi- 
ness of  such  preceding  meeting,  except  as  to  errors  or  inaccura- 
cies in  the  minutes. 

Art.  2.').  The  President  sliall  be  the  judge  of  order,  and  his 
decision  shall  be  immediately  submitted  to,  unless  two  members 
Ruks  of  order,  require  an  appeal  to  the  Board,  in  which  case  the  Board  shall 
either  sustain  or  over-rule  the  decision  of  the  President.     If  a 
transgressing  mcnilicr  is  called  to  order  by  the  Pi'esident,  he 
shall  immediately  take  his  seat,  and  shall  not  proceed,  unless  it 
may  be  to  explain  himself,  or  to  apologise,  or  to  appeal  to  the 
p     -A    ff   Board.     The  Pi'esident  shall  name  all  committees,  unless  in  spe- 
appoint    com-  cial  cascs,  when  the  Board  shall  otherwise  determine, 
niiitets.  Art.  2(>.  Every  member  jjrescnting  a  i)apcr  to  the  Chair 

shall  first  state  its  general  pur[)ort5  and  the  Board  shall  decide 
■  whether  or  not  it  shall  be  received.     Every  member  who  shall 

malve  a  motion  or  oH'er  a  resolul^^ion  or  speak  on  any  subject  un- 
der discussion  shall  rise  and  address  the  President;  but  no  debate 
shall  be  entered  into  on  any  motion  or  resolution  until  it  shall 
have  been  seconded  and  stated  or  read  from  the  chair.  All  mo- 
tions shall,  if  rc(iuested  by  the  President,  or  by  two  members, 
be  reduced  to  writing;  and  all  resolutions  and  reports  from  Com- 
mittees shall  be  made  in  writing,  if  required.  No  member  shall 
speak  more  than  twice  upon  any  one  questionj  without  leave  from 
tlie  Board. 

Art.  27.  While  a  resolution  is  under  consideration  no  mo- 
tion shall  be  made,  except  to  am  end,  divide,  commit,  or  postpone 
Previous  ques-  it.     But  it  shall  be  in  (»rder  at  any  time,  on  the  call  of  three  mem- 
*"^"'  bers,  to  lake  the  previous  question,  which  shall  be,  "shall  the 

main  question  be  now  put?"  and  if  it  shall  be  decided  in  the  af- 
firmative, the  debate  shall  cease,  and  the  main  question  be  im- 
Adjournment.  rn^^i'^tely  put,  and  decided.     A  motion  to  adjourn  shall  always 
be  in  order,  but  sliall  be  decided  without  debate. 

Art.  28.  A  member  may  call  for  the  division  of  a  question, 
Division  of  ^^  resolution,  where  the  sense  will  admit  of  it,  but  no  amendnilent 
quesuoDs.        which  tends  to  destroy  the  general  sense  of  the  clause  of  a  resolu- 
tion shall  be  admitted. 
Aet.  29.  If  business  of  different  kinds  shall  be  called  for  at 


THE  BANK  OF  KENTUCKY.  25 

the  same  time,  by  different  members,  the  Board  will  judge  and 
give  preference  accordingly. 

Art.  30.  After  a  motion  or  resolution  has  been  made,  se-  Motion  or  res- 
conded,  stated,  or  read  by  the  President  and  admitted  for  conside-  ^^  ^uhdrawn 
ration  by  the  Board,  it  shall  not  be  withdrawn  by  the  mover  with-  without      the 
out  the  consent  of  the  Board,  and  the  names  of  the  members  who  ^^^^^^  °^  *^^ 
propose  and  second  a  resolution  or  motion  shall  be  entered  on  the 
minutes.     The  yeas  and  nays  shall  be  taken  on  any  question  if  yeas  and  nays 
called  for  by  two  members  previous  to  the  decision  on  such  ques-  to  be  taken. 
tion ;  but  no  motion  for  reconsideration  shall  be  permitted,  unless    Reconsidera- 
made  and  seconded  by  members  who  voted  with  the  majority  on  tion. 
the  original  question. 

Art.  31.  All  resolutions  entered  in  the  minute  book  without 
the  yeas  and  nays,  being  specially  voted,  shall  be  considered  as 
passed  by  the  unanimous  vote  of  all  the  Directors  present  at  said      Resolutions 
meeting;  nor  shall  any  member  at  any  future  period  be  permitted  dopted. 
to  plead  that  he  did  not  give  his  assent  to  the  same. 

Art.  32.  It  shall  be  the  duty  of  any  Director,  interested  in  When  a 

any  important  question  before  the  Board,  to  withdraw  while  the  Director  shall 
same  is  under  discussion,  and  until  it  shall  be  decided  upon.        withdraw. 

Art.  33.  No  rule  of  the  Board  shall  at  any  time  be  dispensed 
with,  unless  in  doing  it  three-fourths  of  the  members  conciu-;  and  the°Board  may 
no  alteration  or  repeal  of  any  of  the  preceding  by-laws  or  rules  be     dispensed 
shall  be  made,  unless  upon  a  motion  made  for  that  purpose,  and  w'^- 
referred  to  the  consideration  of  a  subsequent  meeting,  and  finally 
adopted  by  a  majority  of  the  whole  number  of  Directors. 

Art.  3-1.  No  vote  shall  be  reconsidered  by  a  less  number    Reconsidera- 
than  were  present  when  the  vote  was  given.  ''°"- 

Art.  35.  Exchange  Committee  to  consist  of  the  President 
and  Cashier,  and  any  two  of  the  Directors.     An  appeal  may  be  Exrhangecom- 
had  from  their  decision  to  the  Board  at  their  regular   meetings;  ™''''^*^- 
Provided,  any  Director  shall  at  all  times  be  considered  a  mem- 
ber of  the  Exchange  Committee. 


BY-LAWS  AND  RULES 


OP 


THE  BRANCHES 


THE  BANK  OF  KENTUCKY. 


Art.  L  The  Bank  shall  be  open  tor  ordinary  business  from 
10  o'clock  in  the  morning  till  2  o'clock  in  the  afternoon,  every     Bank  hours, 
day  in  the  year,  except  Sunckiyg,  Christmas  day,  tlic  4th  of  July, 
and  such  other  days  as  may  be  ordered  by  the  Board  of  Direc- 
tors. 

Art.  2.  The  Bank  shall  take  charge,  free  of  expense,  of  the 
cash  of  all  such  persons  as  may  choose  to  place  it  there,  (except 
where  the  account  is  ordered  to  bo  closed,)  and  shall  keep  it,  sub- 
ject to  the  order  of  the  depositor,  payable  at  sight:  and  shall  also  U^positeg. 
receive  special  dcposites  of  ingots  of  gold,  bars  of  silver,  wraught 
plate,  and  other  valuable  articles  of  small  bulk,  for  safe  keeping, 
at  the  risk  of  the  depositor. 

Art.  3.  All  bills  and  notes  offered  for  discount  shall  be  de- 
livered into  Bank  during  banking  hours, on  the  day  ])revi(tus  to      wiuu  notes 
the  di.scount  day,  and  sliull  be  laid  beturo  the  Directors  before  and  bills  are  to 
the  regular  banking  hours  on  ihc  discount  day,  together  with  a  |j* ^',^^1',^'''*   ^"'' 
statement  of  the  situation  and  fimds  of  the  Bank,  the  credit  books, 
of  notes  and  billsdiscounted,  and  all  such  other  bwksas  the  Board 
may  require,   when   the  discount  shall  be  settled,  and  such  as 
shall  be  admitted  shall  pa.ss  to  the  credit  of  the  ap|)licants,  as  of 
the  same  day  on  which  they  are  discounted,  and  those  notes  or 
bills  not  di.scountcd  shall  be  returned  at  any  time  after  twelve 
o'clock  on  the  same  da\ . 


iS  BY-LAWS  AND  RULES  OF  THE  BRANCHES 

AuT.   1.  'J'lic  nitc  of  discount  pluill  not  exceed  one  half  of 
Iiitereit.        onc  per  ccntiun  for  thirty  days,  and  the  discounts  shall,  ordina- 
rily be  made  upon  personal  security,  w  ilh  at  least  two  responsi- 
Knilorsers.     \)\c  names — the  lirni  of  a  liouse  being  considered  as  one  name 
only;  but  in  special  cases  they   may  be  made  on  such  other 
Oiliir  security.  gj,^.^,,.ity  as   shall  be  accepted  and  approved  as  sutlicient  by 
the  IJoard  of  Directoi-s,  or  by  the  President  and  such  committee 
as  siiall  be  invested  by  the  Board  with  the   power  of  making 
In  cases  of '''^"^'^'"•^*^-     I"  cases  also  of  mistake  or  accident,  or  urgent  ne- 
urgency.l'resi- cessity,  whcu  the  Board  or  a  committee  cannot  be  in  session  to 
dent  to  act.       ^^.^^  ^  m^j^  ,j);^y  \jq  j-cnewed  or  discounted,  according  to  the  sound 
discretion  and  judgment  of  the   President,  and  reported  at  the 
next  meeting  of  the  Board.     At  the  meetings  of  the  Board,  no 
bill  or  note  shall  be  discounted  or  renewed  if  opposed  by  one- 
Iburth  of  the  Directors  present,  and  no  committee  shall  be  in- 
vested with  the  i>i)wer  of  making  discounts  when  the  appointment 
shall  be  oppose  I  by  one-fourth  of  the  Directors  present.     No 
Officers  not^'^*'^'^*'^  money  shall  be  granted  on  paper  where  the  name  of  ei- 
to  be  drawers  thcr  the  Cashicr,  or  a  Clerk,  or  a  Porter  in  the  Bank  shall  appear 
or  endorsers,     ^s  drawer  Or  endorser. 

Art.  5.   Every  discounted  note    or  bill  that  shall  remain 
impaid  on  shutting  of  the  Bank  on  the  last  day  of  grace,  (or  if 
bills^f  unpaid,  the  la.st  day  of  grace  should  be  on  Sunday,  or  on  a  day  when 
when  and  how  the  Bank  shall  not  be  open  for  ordinary  business,  then  on  the 
protested.         second  day  of  grace,)  shall  forthwith  be  delivered  to  the  Notary 
for  protest,  whose  duty  it  shall  be  to  give  proper  notice  thereof 
forthwith  to  the  endorser  or  endorsers,  and  to  protest  the  said 
note  or  bill,  and  to  make  a  record  or  memorandum  of  the  time, 
manner  or  circumstances  of  doing  the  same,  and  make  report  to 
the  President  or  Cashier,  who  shall  cause  the  same  to  be  noted 
in  a  book  to  be  kept  in  the  Banlc  for  that  purpose;  and  while 
such  note  or  bill  remains  unpaid,  no  discount  or  accommodation 
shall  be  granted  to  any  drawer,  endorser,  or  acceptor  of  the 
Proceedings  Same.     Bills  and  notes  deposited  for  collection,  at  any  time  be- 
on    bills    and  fore  the  commencement  of  the  days  of  grace,  shall  be  proceed- 
""iTai^on'   ^'^'^  ^^  ^^ '^^  ^^  '""'"^  ^"*-'  notes  discounted,  unless  the  person  deposit- 

p,«,-.c«         ing  the  same  shall  otherwise  direct  in  writing:  Provided,  That 
rroviso.  .    o  07 

m  case  ot  non-payment  and  protest  the  person  lodgmg  the  same 
shall  pay  the  charges  of  protest.  Bills  and  notes  may  be  re- 
ceived for  collection  after  the  commencement  of  the  days  of 
gi-acc,  in  cases  where  the  Pres-rident  or  Cashier  shall  so  direct : 

Bank^\^i^l°  not  ^^^ '"  ^^^^^  ^^^^^  ^^^  -^^"'^  ^^'^^  "^*  &^^  notice,  make  demand, 
prote.-t.  or  be  bound  to  cause  protest  to  be  made,  but  the  bill  or  note,  or 

the  money  received  for  it,  as  the  case  may  be,  shall  remain  sub- 
ject to  the  order  of  the  depositor,  in  the  same  manner  as  other 
deposites.     Bills  and  notes  to  be  sent  to  other  Banks  for  collec- 
Iliik.  tion,  shall  be  at  the  risk  of  the  depositor,  who  shall  be  subject  to 

all  charges  and  expenses  respecting  the  same. 

Art.  6.  On  every  discount  day  the  name  of  every  person 


OF  THE  BANK  OF  KENTUCKY.  29 

who  shall  have  overdrawn,  or  attempted  to  overdraw,  on  the 
Bank,  since  tlie  last  discount  d;iy,  shall  be  reported  to  the  Board ;     Overdrawers 
and  no  person,  while  he  remains  an  overdrawer,  shall  have  any  °    ^  ^^P°^ 
bill  or  note  discounted;  and  in  no  instance  will  the  Bank  give  a     Overdrawers 
release  or  discharge  to  any  debtor,  where  the  debt  arises  from  to  have  no  dis- 
overdratt;  and  any  clerk  who  shall  knowingly  suffer  an  over- '^°""is- 
draft  to  be  made  on  the  Bmk,  or  who,  after  having  discovered  ^1"'^,^^° ^^^^. 
an  overdraft  to  have  been  made,  and  shall  not  immediately  com-  drafts. 
municate  the  same  to  the  President  and  Cashier,  shall  be  dis- 
missed from  the  service  of  the  Bank;  and  all  deficiencies  in  the  Deficiencies  in 
cash  of  the  Bank  shall  be  chargeable  to  the  person  with  whom  they  ^^^  ' 
occur. 

Art.  7.  Every  person  who  opens  an  account  and  transacts 
business  with  the  Bank,  shall  subscribe  his  name  in  a  book  to  be     ^^^^  pf  ^j^. 
called  the  Book  of  Signatures,  to  be  kept  in  the  Bank  for  that  natures. 
purpose;  and  the  President  or  Cashier  may  also  require,  at  his 
discretion,  from  any  house  or  firm  doing  business  with  the  Bank, 
and  consisting  of  more  than  one  person,  a  declaration  of  the 
names  and  surnames,  and  places  of  residence,  of  the  persons  who 
compose  such  firm;  and  that  each  person  belonging  to  such  firm,        signatures 
shall  subscribe  in  the  book  of  signatures,  and  insert  therein  the  of  members  of 
names  of  his  partner  or  partners.     And  the  President  and  Cash-  fi'"is- 
ier  shall  be  authorized  to  close  such  accounts  as  they  may  deem   How  accounts 
neces.sary  for  the   safety  and    convenience  of  the  Bank,  and"''*^ 
shall  report  their  proceedings  and  reasons  therefor  to  the  board 
at  the  next  meeting,  which  shall  be  subject  to  the  decision  of  the 
board. 

Art.  8.  The  Bank  shall  receive  all  specie  coin  according  to  .     . 

the  rates  and  value  established  by  Congress;  and  no  gold,  silver,  g^^y  to  be  re- 
or  copper  coin,  other  than  such  as  is,  or  shall  be,  authorized  by  ceived. 
the  laws  of  the  United  States,  shall  be  receivable  as  money  at 
the  Bank.  And  all  payments  made  at  the  Bank  shall  be  exam- 
ined at  the  time,  and  if  any  error  be  then  found,  it  shall  be  im- 
mediately corrected;  but  no  error  suggested  afterwards  shall  be 
admitted,  unless  such  error  shall  be  apparent  from  the  cash  set- 
tlement of  the  day. 

Art.  9.  The  books  and  accounts  of  the  Bank  shall  be  kept 
in  dollars  and  cents,  and  shall  be  regularly  balanced  on  the  first  Books,  when 
Monday  in  July^and  January.  The  accounts  of  the  Bank  with  to  be  bahinced. 
other  institutions  shall  be  adjusted,  and  balances  confirmed,  as  Accounts  with 
often  as  once  in  every  three  months;  and  each  l)0()k-kecper  shall  [^j/J^aia,,".";^  '" 
ronstnntly  keep  every  account  in  his  leger,  so  pencilled  up  as 
to  exhibit  the  balance  of  each  at  the  first  inspection. 

Art.  10.  The  President  and  Directors  shall  cause  the  Cash- 
ier to  make  quarterly,  on  the  first  day  of  January,  April,  July,  Qn.jriorlv  lists 
and  October,  a  complete  memorandum,  in  alphabetical  order,  ofofd.hts  due  re- 
all  the  debts  due  the  Branch,  setting  out  the  amount  due  by  each  fi""''l"'"<^-»»''- 
individual,  with  the  names  of  the  endorsers,  and  a  note  of  the 
other  security,  the  date  of  the  notes  or  bills,  and  when  payable; 


aO  BY-LAWS  AND  RULES  OF  THE  BRANCHES 

DUG  copy  of  wliicli  shall  be  retained  at  the  brancji,  another  copy 
shall  be  transmitted  to  the  principal  Bank;  and  these  inemoran- 
dnnis  shall,  at  all  times,  be  open  to  the  examination  of  tho  Pre- 
sident and  Directors  of  the  principal  iJank  and  branches.  It 
shall  be  the  duty  of  the  President  and  Directors,  as  often  as 
Monthly  cxnni-onco  in  cvory  month,  to  cause  a  strict  examination  to  be 
mntion  oi  nc-  ,„jij(j  ^f  the  accounts  of  the  Cashier,  and  a  full  and  complete 

count  o(  Cnsh-  ,  ,  ^        ,         t  li       •  i     ,>    ,  '       , 

it-rg.  statement  to  be  made  and  entered  on  the  journal  ot  the  pi-oceed- 

ings  of  the  board. 

Aht.  11.  Without  the  special  authority  of  the  board,  no  Di- 
rector except  the  President,  shall  be  permitted  to  inspect  the  run- 
President  only  ning  or  casli  account  of  any  person  with  the  Bank;  and  no  Di- 
n'ingorcasil^ac-  T^^^^^or  is  permitted  to  divulge  any  of  the  confidential  measures  of 
counts.  tlic  Bank,  provided  they  are  not  in  opposition  to  the  charter;  and 

Proceedings  ^s  the  interest  of  the  Bunk  requires  the  free  and  unreserved  in- 
terchange of  opinion  of  the  Dii'ectors,  more  particularly  in  the 
operation  of  discounts,  no  member  is  permitted  to  reveal  the  opi- 
nion or  vote  given  on  any  matters  relating  thereto. 

Art.  12,  In  every  election  to  an  office  (except  that  of  Presi- 
Election  of  dent)  by  the  board,  there  shall  i)e  a  nomination  of  the  candi- 
iM-'co"iucu-V°  ^^^'^  ^^  ^  previous  meeting;  and  a  majority  of  the  votes  of  all  the 
Directors  present  shall  be  necessary  to  render  an  election  valid. 
In  elections  the  ballots  shall  be  first  taken  for  all  the  candidates, 
and  if  upon  examination,  no  one  shall  have  a  majority  of  the  votes 
of  all  tlie  Directors  present,  tlicn  the  tln-ee  candidates  having 
the  highest  number  shall  be  voted  for  again,  and  in  case  no  one 
shall  then  appear  to  be  duly  elected,  the  ballots  shall  be  taken  on 
the  two  highest. 

Art.  13.  Before  entering  u])on  the  duties  of  office,  the 
Offir  o'  Cashier  and  each  Clerk  in  the  Bank,  shall  give  bond  with  two 
bonds.  "  or  more  sureties,  to  be  approved  by  the  Board  of  Directors,  for 
his  good  behaviour  and  the  faithful  discharge  of  his  duties,  and 
trust  reposed  in  him,  in  the  following  sums,  that  is  to  say:  The 
Cashier  in  the  sum  of  twenty -five  thousand  dollars;  each  of  the 
Clerks  in  the  sum  of  five  thousand  dollars.  The  President,  Di- 
rectors, Cashier,  and  other  officers  of  the  Bank,  previous  to  en- 
tering on  the  discharge  of  their  duties,  shall  take  an  oath  before 
some  justice  of  the  peace  of  this  State,  faithfully,  honestly  and 
Form  of  oath  (q  ^\^Q  jjggt  q(  (^i^gjj.  gj^ju  .^^^  judgment,  to  discharge  all  the  du- 
ties of  their  respec!;i\  e  offices  and  stations  under  the  charter 
of  this  Bank,  or  which  may  be  required  of  them  by  the  by- 
laws, rules  and  regulations  of  the  corporation;  and  that  they  will 
not,  during  their  continuance  in  office,  sanction  or  permit  any  of 
the  provisions  of  said  charter  to  be  violated ;  and  should  any  such 
violation  take  place,  without  their  concurrence,  that  they  will 
immediately  communicate  the  same  to  the  Attorney  General  of 
this  Commonwealth. 

Art.  14.    The  President  shall  retain  and  exercise  all  the 
rjghts  and  privileges  which  belong  to  any  Director.     lie  shall 


OF  THE  BANK  OF  KENTUCKY.  31 

be,  ex  officio,  a  member  of  every  committee,  except  in  special 
cases,  where  it  shall  be  ordered  otherwise  by  the  Board.  He  Powers  and 
shall  preside  and  keep  order  at  all  meetings  of  the  Board.  It  p"es^dent. 
shall  also  be  his  dut)'  to  exercise  a  supervision  over  all  the  con- 
cerns of  the  Branch — to  superintend  the  oiiicial  conduct  and  du- 
ties of  all  persons  employed  in  it — and  to  call  special  meetings  of 
the  Directors  whenever,  in  his  opinion,  such  meetings  may  be 
required  by  the  interest  of  the  Bank;  and  it  shall  be  his 
duty  to  call  a  meeting  when  requested  by  two  members  to 
do  so. 

Art.  15.    It  shall  be  the  duty  of  the  Cashier  to  superin- 
tend the  opening  and  keeping  of  the  legei-s,  and  all  the  other  books    Duties  of  ihf 
used  in  the  Bank,  and  carefully  to  observe  the  conduct  of  all    '**'"*''■• 
officers  employed  under  him,  and  to  report  to  the  President  or  to 
tlie  Board,  such  instances  of  neglect,  absence,  incapacity  or  bad 
conduct,  as  shall  come  to  his  knowledge,  in  any  of  them — daily 
to  examine  the  settlement  of  the  cash  account  of  the  Bank — to 
take  charge  of  the  cash,  and  whenever  the  actual  amount  disa- 
grees with  the  balance  of  the  cash  account,  report  the  same  to  the         ^ 
President  and  Directors  without  delay — to  attend  all  meetings  of 
the  Board,  keep  a  fair  and  regular  record  of  its  proceedings — 
give  such  information  to  the  Board  as  may  be  required — consult 
with  committees,  when  requested,  on  subjects  referred  by  the 
Board;  and  also,  to  perform  such  other  services  as  may  be  re- 
quired of  him  by  the  Board  or  the  President. 

Art.  1G.  All  officers  or  persons  chosen  or  appointed  by  the 
Board  of  Directoi-?,  shall  hold  their  offices   and   employments    How  officers 
during  the  pleasure  of  the  Board;  their  salaries  shall  be  fixed  by  are  appointed; 
resolution  of  the  Board.     The  Cashier  shall  lay  before  every  sala"^es"  L^of 
Board  of  Directors,  on  their  entering  into  office,  a  list  of  the  otFicers  to   be 
officers  and  persons  employed  in  the  Bank,  with  their  salaries, .'"'J'^e  by  Cash- 
tlie  names  of  their  securities,  and  the  amount  for  which  theyare 
bound;  and  it  shall  be  the  duty  of  the  Board  of  Directors  to  take 
order  on  said  list  of  officers,  as  to  their  fitness  and  other  quali- 
ties, and  the  sufficiency  of  their  securities. 

Art.  17.  Every  Clerk  or  person  in  the  employ  of  the  Bank 
shall  give  his  attendance  and  lal)or  in  the  Bank  as  long  as  his  j^^e„,i„„ce  ^j 
service  may  be  required  by  his  regular  business,  or  by  the  Cash-  officers. 
icr,  the  President,  or  the  liuard;  and  all  cases  of  neglect  or  re- 
fusal shall  bt;  reported  to  the  Board.     Any  a[)plication  for  leave     Leave  of  ab- 
of  absence,  by  a  Clerk  or  person  in  the  employ  of  the  Bankjsence. 
shall  be  made  to  the  President  and  Cashier,  who  shall  grant  or 
refuse  the  name  as  they  may  deem  expedient.     And  neither  the 
Cashier,  nor  a  Clerk,  nor  a  Porter,  shall  carry  on  any  other  bu- 
siness than  that  of  the  Hank,  nor  engage   in  any  employment  ^^J|j^^':'jj'|j"jjj*^ 
which  can  withdraw  his  attention  from  his  duties  in  the  Bank;bu«iness. 
and  no  Clerk  or  Porter  shall  have  an  account  in  the  Bank,  but 
may  receive  hi.s  salary  from  tlic  Cashier  at  the  end  of  each 
month. 


:ij  I5V-I.AWS  AND  RULES  OF  THE  BRANCHES 

DeUberatv  Proceedings  of  the  Board  of  Directors. 

AuT.  18.  The  Directors  shall  assemble  at  (he  Bank  pn  every 
Meetings  orJiscuimt  day,  lor  the   purpose  of  discount,  and  doing  any  other 
the  Board.        business,  Unless  those  liays  or  either  of  them  shall  fall  on  any  of 
Kxcepiioii.    ^^^^  ^'"^y^  excepted  in  the  first  article. 

Aki".  id.   When  the  President,  takes  the  cliair,  the  members 
shall  take  dieir  seats,  and  give  their  attention  to  the  business  be- 
Ordir  of  pro-  fore  the  Board.     The  Cashier  shall  lay  before  the  Board  the  state 
.reilings.  of  the  Bank,  the  amount  of  the  income,  and  of  the  notes  and  bills 

ottered  for  discount,  and  the  overdrafts,  or  attempts  to  overdraw, 
since  the  last  discount  day — as  also,  the  con-espondence  of  the 
Bunk.  All  notes  or  bills  offered  for  discount  shall  then  be  consi- 
dered by  the  Board,  and  decided  on.  The  minutes  of  the  preced- 
ing meeting  shall  then  be  read,  if  any  member  shall  so  require, 
but  no  debate  shall  be  admitted,  nor  question  taken,  on  the  busi- 
ness of  such  ])rcceding  meeting,  except  as  to  errors  or  inaccura- 
cies in  thp  minutes. 
_  Art.  20.  The  President  shall  be  the  judge  of  order,  and  his 

Rules  of  order.  ^'^^■'^"°"  ^'^^^^  be  immediately  submitted  to,  unless  two  members 
require  an  appeal  to  the  Board,  in  which  case  the  Board  shall 
either  sustain  or  over-rule  the  decision  of  the  President.  If  a 
transgressing  member  is  called  to  order  by  the  President,  he 
shall  immediately  take  his  seat,  and  shall  not  proceed,  unless  it 
may  be  to  explain  himself,  or  to  apologise,  or  to  appeal  to  the 
President  to  Board.  The  President  shall  name  all  committees,  unless  in  spe- 
appoint    com-  cial  cases,  when  the  Board  shall  otherwise  determine. 

mittees.  »  t^-i     -n  i       <-^i     • 

Art.  21.  liVery  member  presenting  a  paper  to  the  Chair 
Rules.  i?hall  first  state  its  general  purport,  and  the  Board  shall  decide 

whether  or  not  it  shall  be  received.  Every  member  who  shall 
make  a  motion  or  offer  a  resolution  or  speak  on  any  subject  un- 
der discussion  shall  rise  and  address  the  President;  but  no  debate 
shall  be  entered  into  on  any  motion  or  resolution  until  it  shall 
have  been  seconded  and  stated  or  read  from  the  chair.  All  mo- 
tions shall,  if  requested  by  the  President,  or  by  two  members, 
be  reduced  to  writing;  and  all  resolutions  and  reports  from  Com- 
mittees shall  be  made  in  writing,  if  required.  No  member  shall 
speak  more  than  twice  upon  any  one  question,  without  leave  from 
the  Board. 

Art.  22.  While  a  resolution  is  under  consideration  no  mo- 
tion shall  be  made,  except  to  amend,  divide,  commit,  or  postpone 

tion.  "  '^^  *  it.  But  it  shall  be  in  order  at  any  time,  on  the  call  of  three  mem- 
bers, to  take  the  previous  question,  which  shall  be,  "shall  the 
main  question  be  now  put?"  and  if  it  shall  be  decided  in  the  af- 
firmative, the  debate  shall  cease,  and  the  main  question  be  im- 

Adjournnient.   mediately  put,  and  decided.     A  motion  to  adjourn  shall  always 
be  in  order,  but  shall  be  decided  without  debate. 
Division  of     -A-RT.  23.  A  member  may  call  for  the  division  of  a  question, 

questions.        or  resolution,  where  the  sense  will  admit  of  it,  but  no  amendment 


OF  THE  BANK  OF  KENTUCKY.  33 

which  tends  to  desti-oy  the  general  sense  of  the  clause  of  a  resolu- 
tion shall  be  admitted. 

Art.  24.  If  business  of  different  kinds  shall  be  called  for  at 
the  same  time,  by  different  members,  the  Board  will  judge  and 
give  preference  accordingly. 

Art.  25.  After  a  motion  or  resolution  has  been  made,  se-  Motion  or  res- 
conded,  stated,  or  read  by  the  President  and  admitted  for  considc-  ^^  withdrawn 
ration  by  the  Board,  it  shall  not  be  withdrawn  by  the  mover  with-  witliout      the 
out  the  consent  of  the  Board,  and  the  names  of  the  members  who  consent  of  the 
propose  and  second  a  resolution  or  motion  shall  be  entered  on  the 
nainutes.     The  yeas  and  nays  shall  be  taken  on  any  question  if  Yeas  and  nays 
called  for  bv  two  members  previous  to  the  decision  on  such  ques-to  betaken, 
tion ;  but  no  motion  for  reconsideration  shall  be  permitted,  unless    Reconsidera- 
made  and  seconded  by  members  who  voted  with  the  majority  on  tion. 
the  original  question. 

Art.  2G.  All  resolutions  entered  in  the  minute  book  without 
the  \eas  and  nays,  being  specially  voted,  shall  be  considered  as 
passed  by  tlie  unanimous  vote  of  all  the  Directors  present  at  said      Resolutions 

r         .       •'  -Si  -xx    J  unanimously  a- 

raeeting;  nor  shall  any  member  at  any  luturc  periou  be  perrmtted  dopted. 
to  plead  that  he  did  not  gi\e  his  assent  to  the  same. 

Art.  27.  It  shall  be  the  duty  of  any  Director,  interested  in  When  a 

any  important  question  before  the  Board,  to  withdraw  while  the  Djiextor  shall 
same  is  under  discussion,  and  until  it  shall  be  decided  upon.        ""■''  '^'^^^' 

Art.  28.  No  rule  of  the  Board  shall  at  any  time  be  dispensed 
with,  unless  in  doing  it  three-titurths  of  the  members  concur;  and  the'^Board  mav 
no  alteration  or  repeal  of  any  of  the  preceding  by-laws  or  rules  be     dispensecl 
shall  be  made,  unless  upon  a  motion  made  for  that  purpose,  and  with, 
referred  to  the  consideration  of  a  subsequent  meeting,  and  finally 
adopted  by  a  majority  of  the  whole  number  of  Directors. 

Art.  29.  No  vote  shall  be  reconsidered  by  a  less  number    Reconsidera- 
than  were  ])resent  when  the  vote  was  given.  ^'°"- 

Art.  30.  Exchange  Committee  to  consist  of  the  President 
and  Cashier,  and  any  two  of  the  Directors.     An  appeal  may  be  Exchange  corn- 
had  from  their  decision  to  the  Board  at  their  regular   meetings;  '"'"^e. 
Provided,  any  Director  shall  at  all  times  be  considered  a  mem- 
ber of  the  Exchanac  Committee. 


UNIVERSITY  OF  CALIFORNIA  LIBRARY 
Los  Angeler 

■»k  is  DUE  on  th 


TllF.  LIBRARY 

UNIVEiic-vrrY  e-i-  «4UF0RNIA 


Ml  iDrri 


'=?1»ll   3 


v^i^  =o 


1"^ 


■^TilJONVSOV^       "^/^aBAINftJVW^ 


^WuUNIVERS/A 


<ril3'jK\'S0)'^ 


vjv;lOSANC[lfj> 

s  y^ — -^ 


-< 


-s^NtllBRARYQ^        ^^^UIBRARYQ^ 


=o  i^ 


o 


^VlOSANCFlfj;^ 


-< 


^OFCALIFOi?^       ^.OF  CAllFOff/)^ 


^<9Aav«an-i>^      ^(?Aaviiaiii>J^ 


oAUIBRARY(9/r,        ^^tllBRARY<7/:, 


^WE  UNIVERS//> 


'^.i/ojiivjjo'^     '^<5fOjiivDjo'^       <rii30NVsm^     "^/^aaAiNn-HWV^ 


^lOSANCEier^ 

o 


^.OF  CALIFO/?^        ^OFCAIIFO/?^ 


^^<?Aavaan-i^     ""^^^Aavaaii-^^ 


\WE  UIJIVERS/A 


o 


.vWSANCElfj> 
o 


%a3AiNn]WV 


.^WEU^JIVERS•/A 


o 
%13DNVS01=<^ 


^lOSANCElfXy. 


%a3AiNnmv 


^HIBRARYQ^       -^ILIBRARYQ^ 


'^OJIIVDJO^'        '^.i/OJnVDJO't^ 


>- 


^V\EUUIVER%       ^>;lOSANCElfj>  ^OFCALIFO%        ^OFCALIFO/?^ 


o 


■^AaaAiNnawv' 


^c'Aavaaii-^"^      ^OAavaaii-^'^ 


^UIBRARYOc.       ^tLIBRARYQ<r 


.Vi 


MUifM 


AWE  UNIVERS/A 


y  .v>i-  •"■• '  '■""i/L.         ^^UJypHliilES/- 


t^s  I 


i     D  '^  J 


■•-  LIBRARY  FACILITY 


AA    000  558  523 


^^Tr^^ 


